This morning, Treasury Secretary Steven Mnuchin joined CNBC’s “Squawk on the Street” by phone to discuss the $2 trillion stimulus package the Senate passed Wednesday night intended to blunt economic damage from the spread of the coronavirus.
Mnuchin revealed stimulus checks will start arriving “within three weeks” and most will arrive via direct deposit.
CNBC reports Treasury Secretary Steven Mnuchin said Thursday that people will start getting relief checks within three weeks, as the country reels from the coronavirus pandemic.
Mnuchin spoke to CNBC the morning after the Senate passed a $2 trillion stimulus package intended to blunt economic damage from the spread of the coronavirus. The House is expected to vote on the legislation Friday.
The massive relief bill offers direct cash payments of up to $1,200 for individuals and $2,400 for couples, with $500 added for every child, based on 2019 tax returns for those who filed them and 2018 information if they have not. The benefit begins to phase out for individuals making $75,000 in income and ends completely for those making $99,000 or more.
“Most of these will be direct deposit,” Mnuchin said. “It will be within three weeks.”
“We’re determined to get money in people’s pockets immediately,” he said.
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