news 2 months ago

Here's When You'll Get Your Coronavirus Money

Newser — Rob Quinn

Americans will start receiving money from the $2.2 trillion coronavirus relief package within three weeks if the government has their bank details, Steven Mnuchin confirmed Sunday. "We expect that within three weeks that people who have direct deposit with information with us will see those direct deposit in their bank accounts," the Treasury secretary told CBS' Face the Nation.

"And we will create a web based system for people where we don't have their direct deposit, they can upload it, so that they can get the money immediately as opposed to checks in the mail." The measure, signed into law by President Trump on Friday, includes $1,200 payments to Americans earning less than $75,000 a year and $500 per dependent child.



Mnuchin said the money provides "bridge liquidity for people as they go through these difficult times." "I think the entire package provides economic relief overall for about 10 weeks," he said.

"Hopefully we'll kill this virus quicker," he said, though he didn't rule out going back to Congress for more money if recovery takes longer. The bill calls for payments to be made "as rapidly as possible," but some experts say Mnuchin's timeline may be too optimistic, CNN reports.

In 2008, it took three months for payments to be made after a stimulus package was signed into law. Mnuchin said administration officials are "working around the clock to get this money out quickly, since this doesn't do people any good if it takes a long time."

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