Eligible Americans to start receiving $600 stimulus checks this week, says Mnuchin
If Congress and the White House reach an agreement on increasing the checks to $2,000, direct payments that have already been deposited will be “topped up as quickly as possible.”
Eligible Americans should start receiving $600 coronavirus stimulus checks this week.
The Treasury Department and IRS have begun depositing “a second round of Economic Impact Payments to millions of Americans,” a result of the latest pandemic relief package signed by President Donald Trump late Sunday, Treasury Secretary Steven Mnuchin announced on Tuesday in a joint statement with the IRS.
Direct deposit payments began Tuesday evening and paper checks would start to be mailed on Wednesday, according the Treasury and the IRS.
.@USTreasury has delivered a payment file to the @FederalReserve 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 (1/2)— Steven Mnuchin (@stevenmnuchin1) December 29, 2020
Taxpayers with a 2019 adjusted gross income up to $75,000 will be receiving a $600 stimulus payment and joint-filing couples earning up to $150,000 can expect a $1,200 check. Parents or guardians would also receive an additional $600 for each dependent child that is younger than 17 years old — $100 more per child than what was paid for dependents under the CARES Act emergency aid passed last spring.
“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” Mnuchin said in the statement. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”
According to the statement, those eligible will be able to check the status of their stimulus payment later this week at IRS.gov/GetMyPayment.
The massive deposit of economic stimulus comes as Congress and the White House continue to debate if Americans should receive larger checks. President Donald Trump continues to call for $2,000 direct payments — a measure that has had Democratic support and is now finding some Republican buy-in.
After Trump voiced his support for larger direct payments, the House passed the Caring for Americans with Supplemental Help (CASH) Act 275-134 on Monday. Forty-four Republican representatives supported the CASH Act, while another 21 — including House Minority Leader Kevin McCarthy of California — did not vote.
The bill has not found traction in the Senate, but like the House, is receiving more bipartisan support.
Senate Majority Leader Mitch McConnell presented new legislation Tuesday that outlined three priorities Trump said he wanted Congress to address in their final week in session. This includes the larger $2,000 direct payments, repealing Section 230 legal liability protections for internet platforms, and to create a bipartisan commission to review the results of the 2020 presidential election, according to The Associated Press.
“This week, the Senate will begin a process to bring these three priorities into focus,” McConnell said without providing details.
The president’s requests and the House bill come at a tumultuous time for the Senate.
The balance of power in the chamber will be decided next week on Jan. 5 when Georgia Republican Sens. David Perdue and Kelly Loeffler attempt to defend their seats in a runoff election against Democrats Jon Ossoff and Raphael Warnock. Both Loeffler and Perdue support the stimulus increase to $2,000.
If legislation to raise the stimulus from $600 to $2,000 is passed, the “economic impact payments that have been issued will be topped up as quickly as possible,” according to the joint Treasury-IRS statement.