Home Economy Treasury Secretary Mnuchin Explains How Americans Can Receive Coronavirus Checks Faster

Treasury Secretary Mnuchin Explains How Americans Can Receive Coronavirus Checks Faster

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This year, April showers will bring coronavirus relief checks for struggling Americans, according to Treasury Secretary Steven Mnuchin.

During a Sunday interview on CBS News’ “Face the Nation,” Mnuchin said the federal government is building an online system that will get relief cash into the hands of Americans as quickly as possible.

Individuals with incomes under $75,000 will receive $1,200, and those who earn more getting a prorated amount depending upon how much over that amount they earn.

Couples who file a joint tax return can get up to $2,400 if their combined income is under $150,000, along with $500 per child.

Mnuchin said Americans who file taxes electronically will be the first to benefit.

“We expect that within three weeks that people who have direct deposit information with us will see those direct deposits in their bank accounts,” Mnuchin said.

“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,” he said.

Mnuchin noted that the checks are only one piece of the Trump administration’s effort to ameliorate the impact of the coronavirus on the American economy.

“Well, there’s really three components of this law now that protects the American public. And the president was determined that we protect the American workers since it was not their fault that we shut down the economy while we kill this virus,” he said.

“So the first component is small business loans, which about half of the companies in the U.S., people will be able to get small business loans and pay their workers for eight weeks. So we encourage people to do that and get them back to work.

“Two, they’ll be enhanced unemployment insurance.

“And three, as you said, there’ll be these checks in the mail or direct deposit. It’s really bridge liquidity for people as they go through these difficult times.”

Mnuchin said the administration is looking at an economic recovery that kicks in after a couple of months.

“I think the entire package provides economic relief overall for about 10 weeks,” he said. “Hopefully, we’ll kill this virus quicker. In the end, we won’t need it, but we have liquidity to put into the American economy to support American workers and American business.”

Mnuchin noted that the administration’s goal is to move quickly.

“We have everybody within Treasury and the administration working around the clock to get this money out quickly since this doesn’t do people any good if it takes a long time,” he said.

Mnuchin also said he is optimistic the administration’s strategy will work.

“I think this program is going to be enormously successful in stabilizing the U.S. economy while hardworking Americans who lost their jobs or aren’t able to work because of the medical situation, that they get help,” the secretary said.

“So this money is going to go into the economy very quickly. It is going to help American workers very, very quickly.

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“And I don’t know how long it’s going to take to kill this virus. I do know we will kill this virus. And when we do, I have great confidence that the U.S. economy will become roaring back.”

During a Sunday appearance on “Fox News Sunday,” Mnuchin estimated that recovery will come in the third quarter.

“I don’t know what the numbers are going to be this quarter. What I do think is, we are going to kill this virus,” he said, according to Fox News. “We’re gonna reopen this economy.

“And in the third quarter of this year, you’re gonna see this economy bounce back with very large GDP numbers and low unemployment back to where we were beforehand.”

This article appeared originally on The Western Journal.

via thefederalistpapers

7 COMMENTS

  1. Does anyone know the Answer to this Question? Individuals who don’t have to file taxes because they receive just a minimal social security check and receive their social security by direct deposit, will they be sent out $1,200 through social security? All the talk seems to be mostly about TAX FILERS who have direct deposit and file online will receive the first checks! Some people earned under the minimum required to File a Tax return. Individuals are on a Lower Fixed Income than most. Will they and How are they to participate on their CoronaVirus Checks!

    • I have since found the answer to this Question. Quick Questions
      Will people on Social Security disability get a stimulus check?

      If you receive Social Security benefits for disability, retirement or Supplemental Security Income, you are eligible to receive a stimulus check or direct deposit. Only individuals whose annual adjusted gross income exceeds $99,000 will not get checks.

      I get Social Security benefits? Do I have to file taxes to get a check?

      Social Security recipients do not have to file taxes to receive a stimulus check. The government can send your check or direct deposit using the information you have provided to the Social Security Administration.

      Will I need to fill out any other forms to get the stimulus check?

      No. The federal government will automatically send you a direct deposit or check using the information on your tax return or that you have provided to the Social Security Administration if you currently are receiving benefits. However, if you are not receiving Social Security benefits and did not file a tax return in 2018 or 2019 yet, you will need to file a 2019 return to get the stimulus money.

  2. If people didn’t work before this because they wanted to keep having kids and be a stay home mom, then they shouldn’t get money now. They survived without it before. Beside most of those people today get public assistance as it is. They should not get a check.

  3. Why is it that all you RETARDicans that hate that nasty
    “S” word want your want your nasty “S” word check?
    Remember you said if Hillary won, America would come to an END, life as you know it would be OVER, remember when all you RETARDicans said that? Well guess what your guy won and look what’s happening, but he was the chosen one, God sent us Trumpzilla you proclaim, he’s your SAVIOR, he’s the Holly one, he was going to maga, he was going to clean the swamp “he never said all the swamp RATS would come from his administration”, see what happens when you break God’s rules. “God said you shall have no God’s before me”. And yet you turned away from God and made Trumpzilla your God. You worship Trumpzilla instead of God. You praise Trumpzilla instead of God. You lay your hands on the shoulders of the Antichrist, there’s plenty of pictures to show everybody I’m right. You have sinned the greatest sin, and now you shall reap what you sowed.

  4. You don’t know what are u saying! Yes, God is only one above all there is no other! But, don’t bring up confusion linking president Trump as he is God! Nobody is considering your mixed, confused mind to link president Trump as Supreme! So, wake up, judge justly before your sins flared up! Obama is Antichrist! We got now president who is cleaning weeds of your filthiness, distraction! So, keep your tongue in close mouth, don’t leash out disturbances!

    • Tat you mean the guy that grabs women by their privates, you mean the guy that paid off a hooker, you mean the guy that saw a hooker while his wife was at home pregnant, you mean the guy that hates people of color, you mean the guy that has never been to church, you mean the guy that uses derogatory remarks for everybody, you mean the guy RETARDicans say is God sent, if Obama is was the Antichrist we would have known long ago, your guy is the Antichrist that why God sent us the plague and earth quakes happening in states not recorded before like Utah and Idaho. All because God said you shall have no God’s before me and you morons praise Trumpzilla like a God a supreme leader he is the BIBICAL story of the beast READ YOUR BIBLE.

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