Mnuchin: New stimulus checks will begin next week
Treasury Secretary Steven Mnuchin said a new round of economic reviews will be sent out next week - much faster than the previous checks.
"People will see this money early next week," he said in an interview with CNBC on Monday. "Urgently needed relief - and on time for the holidays."
"This is a very, very quick way to get money into the economy."
One of the questions related to the additional payments included in a new coronavirus aid package due in Congress is how quickly they can be paid out. Some wonder if many of them might not go out until after President-elect Joseph Biden took office.
It took about 15 days for the IRS to start distributing checks after the last coronavirus stimulus measure went into effect in March, and months to ultimately make more than 160 million payments. However, having done so once before this year, it should make this round easier for the IRS.
The agreement, announced by lawmakers on Sunday, calls for payments of up to $ 600 per person, including children, for families earning up to $ 150,000 per year.
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