WASHINGTON, D.C. – The Department of Treasury on Wednesday unveiled plans for a redesign of the twenty-dollar bill, saying the updated currency is expected to be in full circulation by 2021.
The current bill, which features former president Andrew Jackson, was initially scheduled for replacement by 2020, with former slave and abolitionist Harriet Tubman taking Jackson’s place. However, those plans, according to Treasury Secretary Steven Mnuchin, have since been scrapped. “Projected production costs were simply too high,” Secretary Mnuchin told reporters, adding, “Frankly speaking, a likeness of Mrs. Tubman would require too much ink.”
Described as a “symbol of American prosperity and self-determination,” the newly revised twenty-dollar note will feature a “stylized rendition” of President Donald J. Trump’s likeness as it appears in his official White House portrait. On the backside, the White House –which made its currency debut in 1928– will be forced into early retirement as a new portrait depicting American soybean farmers toiling in the fields against the backdrop of a border wall with a bald eagle and two F-35 Joint Strike Fighters flying overhead takes its place.
The inclusion of American soybean farmers came at the insistence of President Trump, who is said to have “taken it upon himself to oversee every step” of the design process. “The American soybean farmer is very near and dear to the president’s heart,” White House Press Secretary Stephanie Grisham told Fox News on Wednesday, adding that Mr. Trump believes the updated twenty-dollar bill will serve as a “lasting tribute to the American soybean farmer’s many contributions to the stability and longevity of our nation’s economy.”
According to a statement released by the Bureau of Engraving and Printing –the federal agency responsible for the production of U.S. currency– the revised twenty-dollar bill is scheduled to begin production in early August and is expected to enter circulation by the end of the year.