Treasury Secretary Jack Lew will announce this week that Alexander Hamilton will remain on the $10 bill and Andrew Jackson will be pushed off the $20 note in favor of a woman from American history, CNN said Saturday.
The announcement will come around a year after an online petition called for Jackson to be replaced with a woman, and ten months after Lew announced he wanted to replace Hamilton instead.
But support for the Founding Father to stay picked up steam thanks to the hit Broadway musical 'Hamilton', and now a government source tells CNN that Jackson will get the push instead.
Rather than removing Hamilton from the $10 bill, the rear of the note will instead feature a mural depicting women's suffrage.
And Jackson will be ousted in favor of a woman representing the fight for racial equality, the source said.
But don't expect to be trading in your old notes any time soon - creating a counterfeit-proof bank note requires input from the U.S. Secret Service, the Treasury, and the Federal Reserve.
That means the new $20 note won't be issued until 2030 - at the earliest.
'The blue security ribbon on the $100 note took over 15 years to develop,' CNN's source said. 'This level of technology is why our counterfeiting remains at less than .01% of currency in circulation.
'We should not expedite the issuance of any currency for political purposes.'
As well as the $10 and $20 bills, the $5 bill will also see changes. Abraham Lincoln will remain on the front, but the rear will show a selection of notable historical moments that have taken place at the Lincoln Memorial.
Treasury Secretary Jack Lew will announce Wednesday that Harriet Tubman will replace former President Andrew Jackson on the $20 bill, Politico and Bloomberg reported.
Lew is also expected to announce that leaders of the movement to give women the right to vote will be on the back of the $10 bill. Alexander Hamilton will remain the face of that bill.
As the Wall Street Journal pointed out Tuesday, Lew said in a memo to President Barack Obama in 2015 that he intended to remove Hamilton from the $10, replacing him with Susan B. Anthony. Lew also noted in that memo that he wanted to suspend production of the penny.
According to The New York Times, women's groups were worried Hamilton would remain on the front of the $10 bill thanks to the popularity of the Broadway musical about him, which won a 2016 Pulitzer Prize. Lin-Manuel Miranda, who wrote and stars in "Hamilton," tweeted in March that he had spoken to Lew about the currency change.
Lawmakers have also joined the movement, with Rep. Luis Gutierrez (D-Ill.) introducing a bill in April 2015 to get a woman on the $20 bill. Sen. Jeanne Shaheen (D-N.H.) introduced a bill the same month that would require Lew to take a recommendation from citizens on a woman whose image could replace Andrew Jackson’s on the $20 bill.
Reps. Bill Pascrell (D-N.J.) and Stacey Plaskett (D-V.I.) penned an open letter to Lew in August, saying "there is still more to be done when it comes to gender equality." The two led a group of 64 lawmakers that asked Lew to put a woman on the $20 while keeping Hamilton on the $10.
"t is a disappointing message that Alexander Hamilton, one of the most influential interpreters of the U.S. Constitution, a passionate advocate for the abolition of slavery, and the founder of the nation’s financial system, will be removed from our currency while President Andrew Jackson, a slaveholder responsible for the Trail of Tears, fierce opponent of the central banking system, and paper currency, retains his place on the $20 bill," they wrote.
Treasury to announce a woman to replace Andrew Jackson on $20 bill th…
Harriet Tubman To Replace Andrew Jackson On $20 Bill
MUH STRONG WOMYN
WE WUZ MONEY N SHIT
MUH 20 DOLLA
How politically correct of them.
