Treasury secretary gives timeline for stimulus checks

National News

(CNN NEWS SOURCE)U.S. Treasury Secretary Steve Mnuchin said Sunday that stimulus checks should start being direct deposited within the next three weeks.

Mnuchin told CBS’ “Face the Nation” that there will be a web-based application for those who don’t receive direct deposit to give the IRS the necessary information.

It is not clear how long it would take the agency to send out all the money. The $2 trillion stimulus bill simply calls for payments to be made “as rapidly as possible.”

Under the stimulus, individuals will receive up to $1,200 and couples will receive up to $2,400 — plus $500 per child. But the payments start phasing out for individuals with adjusted gross incomes of more than $75,000. The amount is then reduced by $5 for every additional $100 of adjusted gross income, and those making more than $99,000 will not receive anything. The income thresholds are doubled for couples.

Included in the bill is $350 billion in small business loans.

Click here to read more about eligibility.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

COVID-19 Testing Vs. Confirmed Cases by State
Mobile Apps DMB_1503428499636.png

Trending Now