With Congress’ final approval Monday of a $900 billion stimulus relief package, families and individuals could soon begin receiving $600 direct payments, said Treasury Secretary Stevin Mnuchin.
“The good news is [direct deposit] is a very, very fast way of getting money into the economy,” Mnuchin told CNBC Monday ahead of Congress’ passing of the bill. “Let me emphasize: People are going to see this money at the beginning of next week.”
But with the package dwarfed by the funding from the CARES Act passed in March, top lawmakers have also promised to pitch yet another coronavirus aid package early next year, CNET reported.
“It’s a down payment,” President-elect Joe Biden said on Dec. 16 of the current stimulus bill, CNET reported. “An important down payment, on what’s going to have to be done at the end of January and into February.”