Americans Will Receive $600 Stimulus Checks Starting Next Week
It looks like those measly $600 stimulus checks are official and Americans will receive them as soon as next week.
The payments are part of a $900 billion pandemic relief package to be approved in congress. As we reported, the payments are half of the previous stimulus package.
Treasury Secretary Steven Mnuchin said that the $600 checks will help over the holidays.
”So much relief, just in time for the holidays,” Mnuchin said to CNBC. “This is a very, very fast way of getting money into the economy. People go out and spend this money, and that helps small businesses. And that helps getting more people back to work.”
RELATED: White House Pushes For Measly $600 Stimulus Checks
Families with dependent children will get $600 per child. For example, a married family of three will get $1800. The payments will become less for those who earn over $75,000 a year, and $150,000 for married couples.
However, not everyone will be eligible, including some students, elderly and disabled people and immigrants who don’t have a Social Security number. They will be available in your bank account as early as next week.
The senate Minority Leader Chuck Schumer said the bill is “just a first step.”
“This is an emergency, we need a second bill to continue dealing with the emergency and to start stimulating our economy so we get back to where we were and that will be job number one in the new Biden administration,” he said.