Tubman Portrait on $20 Note

Summary#

The bill requires new $20 Federal Reserve notes to prominently show a portrait of Harriet Tubman on the front. It sets a public deadline for a preliminary design and bans printing $20 notes after 2028 that do not carry Tubman's portrait. The stated goal is to place a woman on U.S. paper money and follow an earlier Treasury announcement about featuring Tubman.

• Main change: The law that governs currency design would be changed so no $20 note printed after December 31, 2028 may lack a prominent portrait of Harriet Tubman on the front.
• Design deadline: The Treasury must release a preliminary $20 design featuring Harriet Tubman by December 31, 2026.
• Scope: The rule applies to $20 notes printed after the 2028 cutoff.
• Targets the $20 note: The bill does not change portraits on other denominations.
• Legal vehicle: The bill amends the statute that controls designs on Federal Reserve notes.

What it means for you#

• General public: Future newly printed $20 bills will show Harriet Tubman on the front. Existing $20 bills in circulation would likely remain legal tender until naturally withdrawn by banks or replaced, but the bill does not spell out a schedule for replacing current notes.
• Treasury Department and Bureau of Engraving and Printing: Must prepare and publish a preliminary design by the end of 2026 and implement the new portrait by the end of 2028 for any $20 notes printed after that date.
• Federal Reserve Banks: Will be affected because they distribute Federal Reserve notes; they will receive and circulate the redesigned $20s as they are printed.
• Businesses and banks: Will handle newly designed $20 notes the same way they handle other currency. The bill does not change how notes are accepted or counted.
• Collectors and museums: New designs may affect collectors’ interests and the value of older or special-series notes, though the bill does not address collector issues.

Expenses#

No publicly available information.

• There is no fiscal note, budget estimate, or detailed cost information in the bill text provided.
• This could mean additional costs for the Treasury and Bureau of Engraving and Printing to design, test, and produce new plates and printing runs.
• There could be printing and distribution costs to Federal Reserve Banks as existing stocks are replaced over time.
• The bill does not authorize specific funding or say who pays for design or transition costs.

Proponents' View#

• The bill appears intended to address the fact that, historically, no woman has been featured on U.S. paper money in general circulation.
• Supporters may argue that placing Harriet Tubman on the $20 note recognizes her historical role and increases representation of women on U.S. currency.
• The bill follows prior public engagement and statements by Treasury leadership about featuring a woman and specifically Harriet Tubman on the $20.

Opponents' View#

• One concern is cost: the bill does not state how much redesign and reprinting will cost or how those costs will be covered.
• The bill does not clearly explain how existing $20 notes will be handled or how long it will take for the new design to reach everyday circulation.
• It is unclear how the new requirement will interact with Federal Reserve operations and any existing plans for currency production and supply.
• The bill sets firm dates but gives few details about design review, security feature testing, or implementation steps, which may raise practical or logistical questions.