New U.S. President Joe Biden wants to speed up the process of replacing the picture of The 7th American President on the 20 dollar bill with the image of Harriet Tubman, a black political activist and abolitionist from the 19th and early 20th century.
Breitbart online news portal reports that Joe Biden´s administration will speed up the effort to replace the former U.S. President Jackson with Harriet Tubman on a 20 dollar bill, according to the White House press secretary Jen Psaki, who told the media that “the Treasury Department is taking steps to resume efforts to put Harriet Tubman on the front of the new $20 note”.
The plan to change the 20 dollar bill was first put in motion by the Obama administration. But Trump was not too eager to change the bill, saying that it was “very rough” to take someone off the bill. In April 2016, he stated: “I think its pure political correctness. He’s been on the bill for many, many years and you know, really represented somebody that was really important to this country.”
Former Treasury Secretary Jacob Lew started the complex process during the Obama administration in 2016. The bill should be released sometime in 2028. In July, the Treasury inspector general reported that the Trump administration did not derail the timeline of the Harriet Tubman $20 bill in a report.
Andrew Jackson was the 7th President of the United States, and is known as the President who “fought the banks”. He was against the Second Bank of the United States and used his executive power to remove all federal funds from the bank. Jackson mostly objected to the bank´s political and economic power and to the lack of congressional oversight over its business dealings. Before that, in 1832, he vetoed the bill re-chartering the Second Bank, arguing that the charter was unfair since it gave the bank almost monopolistic market power. He also opposed the fact that the bank´s stockholders were mostly foreigners. As an alternative, he suggested the creation of a wholly government-owned bank instead, or at least to auction the Second Bank of the US’s monopoly privileges to the highest bidder.
After coming to the White House, Biden has also removed the portrait of Andrew Jackson that was placed in a prominent position in the oval office by Trump.