Americans Could Receive Stimulus Payments As Early As Tonight, Minuchin Says
Nexstar Media Wire Dec 29, 2020 06:11 PM
After months of congressional negotiation and stalemates, Americans could finally receive another round of economic COVID-relief payments as early as Tuesday night, Treasury Secretary Steven Minuchin said in a statement on Twitter.
Those $600 payments would be sent via direct deposit, with paper stimulus checks being mailed Wednesday.
Minuchin on Twitter:
@USTreasury has delivered a payment file to the @FederalReserve for Americans’ Economic Impact Payments. These payments may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week (1/2) — Steven Minuchin (@stevenmnuchin1) December 29, 2020
Minuchin added that the Get My Payment tracking tool on the IRS website, which has been temporarily unavailable, will be accessible again “later this week.”
Americans who make under $75,000 per year will soon receive a one-time $600 check based on their 2019 income for them as well as for dependents under the age of 17. The payments are gradually diminished for people making more than $75,000, or $150,000 for married couples, and phased out completely for income levels of $87,000 for individuals and $174,000 for couples.
Meantime, a Senate vote on a bill to raise the amount of the second stimulus check to $2,000, an amount supported by Democrats and President Trump, was blocked Tuesday by Republicans.
Senate Majority Leader McConnell countered with a bill that would tie the $2,000 stimulus checks to the repeal of Section 230, the social media immunity law, and the creation of a commission on election fraud.
This is a developing story.