Secretary of the Treasury Steven Mnuchin
Steven Mnuchin What’s in the € 0 billion coronavirus elimination bill Negotiators resolve last-minute issues as COVID reduction bill moves to finish line Senators reach agreement on Fed powers, setting the stage for switching to the MULT coronavirus aid said Monday that it expects Americans to begin receiving stimulus checks as early as next week from the COVID-19 aid package that Congress is ready to approve.
“The president wanted direct payments, so we will send the deposit directly next week,” Mnuchin told CNBC. “I hope we get the money out by the beginning of next week.”
Lawmakers and the White House reached an agreement on Sunday on a $ 900 billion coronavirus aid 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 published Monday morning, and President Trump
Donald Trump Trump signs bill extending government funding for 24 hours Congress passes one-day stop-gap law ahead of deadline What’s in the 0 billion coronavirus aid bill MORE he still has to sign it.
The bill’s payments will be the second round of direct payments Congress has made in an effort to help people cover spending during the coronavirus pandemic. In March, Congress passed payments of up to $ 1,200 per adult and $ 500 per child under CARES.
Mnuchin’s schedule for the second round is faster than the schedule for CARES Act payments. The first round of payments was adopted on March 27, and taxpayers whose direct deposit information was already on file with the IRS began receiving payments in mid-April.
Mnuchin called direct payments a “very, very fast way to attract money into the economy.”
“There’s money being recirculated in the economy, so people go out and spend that money and that helps small businesses and that helps get more people back to work,” he said.