Minister of Finance Steven Mnuchin
Steven Mnuchin What’s In The 0 Billion Coronavirus Bill Negotiators Solve Last Minute Problems As COVID Relief Act Closers To The Finish Senators Reach Agreement On Fed Powers Paving The Way For Coronavirus Emergency Response MORE said Monday that he expects Americans to receive stimulus checks next week from the COVID-19 aid package that Congress is about to approve.
“The president wanted instant payments, so we’ll make a direct deposit next week,” Mnuchin said on CNBC. “I expect we’ll have the money early next week.”
Lawmakers and the White House reached an agreement Sunday on a $ 900 billion coronavirus relief package, which includes direct payments of up to $ 600 for adults and children. Congress has yet to vote on the bill, the text of which had not yet been released Monday morning, and President Trump
Donald Trump Trump Signs Bill to Extend Government Funding for 24 Hours Congress Approves One-Day Emergency Bill Before Closing Deadline What’s in Coronavirus Bill 0 Billion MORE has yet to sign it.
The payments in the bill will be the second round of direct payments that Congress has provided in an effort to help people meet their expenses during the coronavirus pandemic. In March, Congress enacted payments of up to $ 1,200 per adult and $ 500 per child in the CARES Act.
Mnuchin’s timetable for the second round is faster than the timetable for the CARES payments. The first round of payments took place on March 27, and taxpayers whose direct deposit information was already with the IRS began to receive their payments in mid-April.
Mnuchin called direct payments a “very, very quick way to get money into the economy.”
“It’s money that is being recycled in the economy, so people go out and spend this money, and that helps small businesses and that helps get more people back to work,” he said.