Treasury Secretary Scott Bessent announced Monday that the department has scrapped plans to feature Harriet Tubman on the $20 bill, ending an initiative that had been in development for nearly a decade. Bessent confirmed the reversal when asked about the status of the currency redesign by Spectrum News, stating that the Trump administration was "not at present" planning to place Tubman's likeness on the note.
The plan to replace Andrew Jackson's portrait with Harriet Tubman, an abolitionist who guided enslaved people to freedom through the Underground Railroad, was first announced by the Obama administration in 2016. The redesign process was subsequently delayed multiple times during the Trump administration's first term and later stalled under subsequent administrations, with officials citing technical challenges related to currency production timelines.
What the Left Is Saying
Civil rights organizations and Democratic lawmakers have long championed the Tubman $20 bill as a symbolic step toward recognizing African American contributions to U.S. history. The effort gained renewed attention following widespread protests in 2020 over racial injustice, when then-Treasury Secretary Mnuchin indicated the project had been shelved indefinitely.
Advocacy groups including the National Association for the Advancement of Colored People (NAACP) and various historical societies have argued that placing Tubman on currency would provide lasting representation for communities historically excluded from such honors. Democratic legislators in Congress have periodically introduced bills seeking to mandate the redesign, though none have advanced to a vote.
What the Right Is Saying
Conservative critics have questioned the prioritization of currency redesign over more pressing economic concerns, arguing that such changes represent symbolic gestures rather than substantive policy. Some Republican lawmakers have noted that existing currency serves commerce effectively and that major redesigns carry operational costs for businesses and financial institutions that rely on automated payment systems.
Supporters of the administration's decision point to previous statements from Treasury officials indicating technical complexities in simultaneously redesigning multiple denominations, and argue that the current focus should remain on economic growth and inflation stabilization rather than portrait changes.
What the Numbers Show
The Bureau of Engraving and Printing has previously estimated that a full currency redesign, including new security features, can cost hundreds of millions of dollars across multiple years. The Tubman initiative would have required updates to printing equipment and public education campaigns about new bill features.
Currency circulation data from the Federal Reserve shows that approximately 8 billion $20 bills are in circulation, representing roughly $160 billion in total value. The $20 bill is the second most common denomination in circulation after the $1 note.
The Bottom Line
The decision marks the formal end of an initiative that survived multiple administrations and political transitions. Treasury officials have not indicated any alternative plans for currency redesigns under the current administration, suggesting the department will maintain existing note designs for the foreseeable future. Groups advocating for Tubman's inclusion on currency say they plan to continue their efforts through legislative channels, though such measures would require congressional action that faces an uncertain path in the current political environment.