If enacted, this bill will amend the Federal Reserve Act to mandate that all $20 Federal Reserve notes printed after December 31, 2030, display Tubman's likeness. It allows for a possible delay in implementation by up to two years if the Secretary of the Treasury finds that issuing such notes would pose a risk of counterfeiting or impact the economy's security and functionality. This change would have a significant impact on the currency landscape, making it a historic step in American financial and cultural history.
Summary
Senate Bill 568, titled the 'Harriet Tubman Tribute Act of 2023', seeks to require the redesign of the $20 Federal Reserve notes to feature the likeness of Harriet Tubman. This legislation reflects a broader societal recognition of Tubman's contributions to American history, particularly her role in the abolition of slavery and her prominence in the struggle for civil rights. The bill is introduced with the intent to elevate Tubman's legacy through an iconic symbol of American currency.
Contention
The proposal may face opposition regarding the feasibility of its implementation and concerns about potential counterfeiting risks. Critics might also argue about the appropriateness of altering existing currency designs and the costs associated with such a significant change. The discussions will likely center on balancing the historical significance of Tubman's legacy with practical considerations of currency production and security.