Sponsor
Jeanne Shaheen
Senator · D-NH
Senator · D-NH
The bill prioritizes symbolic representation and a transparent timeline for redesigning the $20 note while allowing limited delays for security, at the cost of taxpayer-funded printing and transition expenses and potential short-term operational burdens and political controversy.
All Americans who use cash — and particularly Black communities — will see Harriet Tubman's likeness on newly issued $20 notes printed after Dec 31, 2030, increasing representation of Black historical figures on U.S. currency.
Taxpayers and financial institutions benefit from a statutory allowance to delay issuance for up to two years if new notes would create counterfeiting or operational risks, protecting currency integrity and economic functions.
Taxpayers gain clearer transparency and accountability because the law sets a statutory deadline and process for the $20 redesign decision.
Taxpayers will bear the direct fiscal cost of replacing $20 notes (printing and related expenses), increasing government spending.
Banks, businesses, and households that handle cash may face short-term operational costs to adjust cash-handling processes and ATMs during the transition.
Mandating a specific historical figure on currency could provoke political controversy and public backlash among some portions of the general public.
Based on analysis of 2 sections of legislative text.
Requires Harriet Tubman's likeness on $20 notes printed after Dec 31, 2030, with up to a two-year delay allowed for counterfeiting or operational risk.
Official title: Require the Secretary of the Treasury to redesign $20 Federal reserve notes so as to include a likeness of Harriet Tubman, and for other purposes.
Introduced March 10, 2025 by Jeanne Shaheen · Last progress March 10, 2025
Requires the Treasury Secretary to ensure every $20 Federal reserve note printed after December 31, 2030, bears the likeness of Harriet Tubman, with the Secretary allowed to delay that deadline up to two years (no later than December 31, 2032) if a post-design consultation finds issuing the notes on the scheduled date would pose an unacceptable counterfeiting risk or impair U.S. financial operations. Any decision to delay must be reported to the House Financial Services Committee and the Senate Banking Committee after consulting the Bureau of Engraving and Printing, the Federal Reserve, and the Secret Service.