Grant was a Union general during the Civil War who led the North to victory and later became the nation's 18th president.
McHenry said Reagan transformed the nation's political and economic thinking and argued that "every generation needs its own heroes."
One of McHenry's Republican primary opponents, Scott Keadle, said he admires Reagan, too. But he accused McHenry of pandering to voters with the bill instead of focusing his work on the bad economy.