WASHINGTON, D.C. — Treasury Secretary Steven Mnuchin said direct payments to Americans, which were signed into law by President Donald Trump on Sunday, could be deposited as soon as Tuesday night.
These are the $600 payments Trump approved Sunday.
Mnuchin added that paper checks could be mailed as soon as Wednesday.
“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 a statement.
In a tweet, Mnuchin said the U.S. Treasury delivered a file to the Federal Reserve for the payments. Mnuchin added that direct deposits could hit some accounts by Tuesday night and will continue into next week. Mnuchin added that paper checks will be mailed beginning Wednesday.
Mnuchin’s announcement came after House Democrats on Monday passed a measure to increase the stimulus payments from $600 to $2,000. The $2,000 figure was the amount sought by President Donald Trump, a move that caught many Republicans by surprise.
On Tuesday, Democrats attempted to get the measure approved in the Senate, but the first voting attempt was blocked by Majority Leader Mitch McConnell.
Trump was not happy with the delaying tactics, tweeting that “Unless Republicans have a death wish ... they must approve the $2,000 payments ASAP,” adding that “$600 IS NOT ENOUGH!”
Mnuchin added that if additional legislation is passed to provide an increased amount, the Treasury Department payments “will be topped up as quickly as possible.”
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