This bill, titled the "Woman on the Twenty Act of 2025," introduced in the 119th Congress, seeks to honor Harriet Tubman by placing her portrait on the $20 bill. The goal is to recognize the historic contributions of women, specifically Tubman's impactful role in American history, by featuring her on U.S. currency. This move aims to rectify the historical absence of women from the nation’s paper currency.

General Summary

The bill sets forth a mandate that by January 1, 2029, all newly produced $20 notes must feature Harriet Tubman's portrait on the front. Additionally, it requires the Department of Treasury to release a preliminary design of the new note by the end of 2026. The bill highlights a significant historical trajectory, noting milestones in U.S. currency development and the current predominance of male figures on banknotes. While there was an announcement in 2016 regarding Tubman's depiction on the currency, this legislation aims to formalize that intent with specific deadlines.

Significant Issues

Several issues arise from this legislation, primarily centered around clarity and implementation. A key concern is the lack of a contingency plan if the deadline for altering the $20 note design by December 31, 2028, is missed. Additionally, the term "preliminary design" is ambiguous, lacking a clear definition of subsequent steps after the design's release, potentially causing confusion about the actual implementation timeline. Another significant issue is the absence of details regarding the financial implications of redesigning and reprinting the currency, which might strain the budget. There is also no explicit accountability mechanism delineated to ensure compliance with the new design requirement, raising questions about oversight and enforcement.

Impact on the Public and Stakeholders

This bill could have several broad impacts on the public and specific stakeholders. Symbolically, featuring Harriet Tubman on the $20 note could strengthen the national narrative around diversity and inclusion. Recognizing a female historical figure, especially an African American woman, on currency could inspire and affirm diverse narratives in American history for the general public, potentially promoting awareness and education.

For specific stakeholders like the Treasury Department and the Bureau of Engraving and Printing, this bill could necessitate logistical and financial planning to meet design and production deadlines. The lack of clarity on several fronts could complicate these processes, leading to administrative and budgetary challenges. Financial institutions and businesses might also need to adapt to the new currency design, ensuring that their cash handling and verification systems can accommodate these changes without confusion or error.

Despite these potential challenges, the bill represents a significant step toward integrating a wider array of historical narratives into national symbols, with potential positive ripples in cultural perception and education. However, for these positive effects to materialize efficiently, the ambiguities and implementation challenges identified must be addressed within the legislative process.

The proposed bill, H. R. 1976, known as the "Woman on the Twenty Act of 2025," mandates that all $20 bills printed after December 31, 2028, must feature a portrait of Harriet Tubman. This notable transition intends to replace the current portrait of President Andrew Jackson and signifies a historic cultural shift.

Financial Implications and Allocations

Although the bill mandates a significant redesign of a common denomination in U.S. currency, it does not explicitly outline any spending, appropriations, or financial allocations required to facilitate this change. The absence of detailed cost considerations in the bill is a notable omission given the potential economic impact of redesigning currency.

Relating Financial Aspects to Identified Issues

• Deadline Enforcement and Compliance: One significant issue is the absence of measures to handle scenarios where the deadline of December 31, 2028, is not met. From a financial perspective, without outlined penalties or accountability frameworks, there is a risk of increased costs due to potential delays in compliance, which remain unaddressed in the bill.

• Understanding of 'Preliminary Design': The bill requires the Secretary of the Treasury to release a preliminary design by the end of 2026. However, the lack of clarity regarding what constitutes a "preliminary design" could lead to unforeseen expenses if additional revisions or stakeholder engagements are necessary post-release.

• Cost of Redesign and Printing: The legislation notably omits a discussion of the costs associated with the redesign and reprinting of the $20 notes. The redesign of currency involves extensive considerations, including security features and printing logistics, potentially leading to significant financial expenditures. These costs are critical to consider for ensuring the Treasury's fiscal responsibility and addressing budgetary concerns.

• Accountability for Compliance: Another oversight is the absence of specification on who is responsible for ensuring the successful transition to the new design by the set deadline. The lack of accountability mechanisms could lead to inefficiencies and potential increases in cost due to delayed or inadequate compliance efforts.

In conclusion, while H. R. 1976 introduces an important cultural initiative by honoring Harriet Tubman on the $20 bill, it lacks detailed financial planning and allocation considerations. The issues identified highlight the need for a more robust framework ensuring fiscal accountability and clarity, particularly regarding the cost and responsibility of implementing the proposed changes.