Mnuchin: Treasury could scrap plans to replace Jackson on $20 bill

Mnuchin: Treasury could scrap plans to replace Jackson on $20 bill
© Keren Carrion

Treasury Secretary Steven MnuchinSteven Terner MnuchinOvernight Finance: CBO to release limited analysis of ObamaCare repeal bill | DOJ investigates Equifax stock sales | House weighs tougher rules for banks dealing with North Korea Week ahead in finance: Clock ticking for GOP on tax reform More former classmates of Mnuchin call on him to resign MORE said Thursday that the Treasury Department could scrap plans finalized under President Barack ObamaBarack Hussein ObamaGOP rep: North Korea wants Iran-type nuclear deal Dems fear lasting damage from Clinton-Sanders fight Iran's president warns US will pay 'high cost' if Trump ditches nuclear deal MORE to replace President Andrew Jackson on the front of the $20 bill with Harriet Tubman.

Mnuchin told CNBC that he’s not focused on the planned currency changes, and wouldn’t commit to following through on them.

ADVERTISEMENT

He said the primary reason the Treasury changes the design of bills is to prevent counterfeiting, something Obama administration officials also emphasized when announcing the changes in April 2016.

“It’s not something that I’m focused on at the moment” Mnuchin said. “The issues of why we change it will be primarily related to what we need to do for security purposes.”

The Treasury Department announced changes to the $20, $10 and $5 bills last year. The department initially planned to place Jackson's image with an image of the White House on the back of the $20 bill.

New designs for the back of the $10 bill featured leaders of the suffrage movement, while the back of the $5 bill would feature depictions of historic civil rights events at the Lincoln Memorial.