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Treasury Secretary Steven Mnuchin responds to Rep. Ayanna Pressley during a House hearing on Wednesday. (Screengrab)
Watch: Congresswoman Pressley Presses Mnuchin to Explain Delay of Harriet Tubman's $20 Bill
"People other than white men built this county... Mnuchin agrees, yet he refuses to update our currency."
May 22, 2019
"#RepresentationMatters," tweeted Rep. Ayanna Pressley on Wednesday, after Treasury Secretary Steven Mnuchin said that a planned redesign of the $20 bill--which would have featured abolitionist and suffragist Harriet Tubman--will not meet an initial 2020 deadline as planned.
In 2016, the Obama administration announced the new design, which would have booted former President Andrew Jackson, a slaveholder who signed the Indian Removal Act, to the backside and put the Underground Railroad hero to the front. The planned launch for 2020 was to coincide with the 100th anniversary of the 19th Amendment.
Mnuchin suggested it would come eight years later, if at all.
During a House Financial Services Committee hearing on Wednesday, Pressley pressed Mnuchin about whether the 2020 deadline would be met.
"The primary reason we have looked at redesigning the currency is for counterfeiting issues," Mnuchin told the Massachusetts Democrat.
"Based upon this, the $20 bill will now not come out until 2028," he said. "The $10 bill and the $50 bill will come out with new features beforehand."
Watch the exchange below:
Further questioned by Pressley, he said, "The ultimate decision on the redesign will most likely be another secretary down the road."
"We will meet the security feature redesign in 2020. The imagery feature will not be an issue that comes up until most likely 2026," he said, and suggested that 2028 was a more likely timeline.
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"#RepresentationMatters," tweeted Rep. Ayanna Pressley on Wednesday, after Treasury Secretary Steven Mnuchin said that a planned redesign of the $20 bill--which would have featured abolitionist and suffragist Harriet Tubman--will not meet an initial 2020 deadline as planned.
In 2016, the Obama administration announced the new design, which would have booted former President Andrew Jackson, a slaveholder who signed the Indian Removal Act, to the backside and put the Underground Railroad hero to the front. The planned launch for 2020 was to coincide with the 100th anniversary of the 19th Amendment.
Mnuchin suggested it would come eight years later, if at all.
During a House Financial Services Committee hearing on Wednesday, Pressley pressed Mnuchin about whether the 2020 deadline would be met.
"The primary reason we have looked at redesigning the currency is for counterfeiting issues," Mnuchin told the Massachusetts Democrat.
"Based upon this, the $20 bill will now not come out until 2028," he said. "The $10 bill and the $50 bill will come out with new features beforehand."
Watch the exchange below:
Further questioned by Pressley, he said, "The ultimate decision on the redesign will most likely be another secretary down the road."
"We will meet the security feature redesign in 2020. The imagery feature will not be an issue that comes up until most likely 2026," he said, and suggested that 2028 was a more likely timeline.
"#RepresentationMatters," tweeted Rep. Ayanna Pressley on Wednesday, after Treasury Secretary Steven Mnuchin said that a planned redesign of the $20 bill--which would have featured abolitionist and suffragist Harriet Tubman--will not meet an initial 2020 deadline as planned.
In 2016, the Obama administration announced the new design, which would have booted former President Andrew Jackson, a slaveholder who signed the Indian Removal Act, to the backside and put the Underground Railroad hero to the front. The planned launch for 2020 was to coincide with the 100th anniversary of the 19th Amendment.
Mnuchin suggested it would come eight years later, if at all.
During a House Financial Services Committee hearing on Wednesday, Pressley pressed Mnuchin about whether the 2020 deadline would be met.
"The primary reason we have looked at redesigning the currency is for counterfeiting issues," Mnuchin told the Massachusetts Democrat.
"Based upon this, the $20 bill will now not come out until 2028," he said. "The $10 bill and the $50 bill will come out with new features beforehand."
Watch the exchange below:
Further questioned by Pressley, he said, "The ultimate decision on the redesign will most likely be another secretary down the road."
"We will meet the security feature redesign in 2020. The imagery feature will not be an issue that comes up until most likely 2026," he said, and suggested that 2028 was a more likely timeline.
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