Direct payments could be deposited in American’s bank accounts beginning Tuesday night, according to Secretary of the Treasury, Steven Mnuchin.
The stimulus bill signed into law by President Donald Trump could begin paying Americans $600 as early as Tuesday evening, in the form of direct deposit. Mnuchin added that paper checks will be sent out by mail beginning Wednesday.
“US Treasury has delivered a payment file to the Federal Reserve for Americans’ Economic Impact Payments. These payments may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week,” Mnuchin tweeted.
“Paper checks will begin to be mailed tomorrow,” he continued.
Mnuchin said in a statement, “Treasury and the IRS are as working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families.”
House Democrats passed a measure to increase the $600 relief checks to $2,000, the amount requested by President Trump. Democrats tried to get the increased direct payments approved in the Senate, but the first voting attempt was blocked by Majority Leader Mitch McConnell.
President Trump tweeted in frustration with the actions of Senate Republicans, saying, “Unless Republicans have a death wish, and it is also the right thing to do, they must approve the $2000 payments ASAP. $600 IS NOT ENOUGH!” Read more…