Washington, D.C. – On Saturday, the Treasury Department has announced that the first stimulus checks are arriving for some Americans. In a statement to ABC News, the US Treasury Department confirmed the payments. Payments had been expected to start going out on Friday according to reports.
One banking executive told the Wall Street Journal that about 10,000 accounts with millions of dollars in total over Friday night. Additional payments are coming soon to other Americans with direct deposit information on file. Those who require paper checks are still waiting for their relief.
The Treasury Department announced a new website that is coming for those who want to register to obtain direct deposit as opposed to waiting on the checks. The website is not live and will not be until sometime next week.
https://twitter.com/USTreasury/status/1248734489032957952?s=20
The IRS also has another new link on their website. The link is for those who may not file taxes to submit their information to receive their payments. If the individual meets the requirements, the payment will be sent to them according to the information they provide.
Americans have been in the middle of the coronavirus economic downturn for many weeks now. Over 17 million Americans have filed for unemployment in the past 3 weeks. This comes as states around the country continue to maintain stay home orders.
President Trump extended the federal governments recommendation until the end of April. Some states have extended their orders into May, but there is talk that President Trump will act soon. He has indicated that he would like the economy open again in May. He also said he would not open the economy if public health was at risk.
Some states and other countries are already pushing for the economy to open again. Public health officials have urged caution at an aggressive timeline. Dr. Anthony Fauci has indicated he hopes that the return to normal will be on the way as we approach summer. Either way, Americans will be ready to get back to normal.
A recent Gallup poll shows that there is some caution in the short term. Most Americans are hesitant for a quick return, but 42% are ready once the cases start to decline. One of the keys appear to be the antibody testing. The tests began in California and data is expected soon.
While Americans continue to wait, the stimulus checks will help. Americans will need the funds to pay bills and keep current on expenses. While the stimulus checks will offer little benefit to the overall economy, it will help Americans who have lost their jobs to get by for now.
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