Once the historic $2-trillion stimulus package was passed a week ago, President Donald Trump immediately signed it into law. So it comes as no surprise that most Americans are looking forward to their $1,200 check. But when is it coming?
The rush to push the stimulus bill through all branches of government is entirely understandable, even if some members of congress expressed serious concerns over specific pieces of the legislation. Now that it's been written into law, the expectation is that money will begin flowing soon. After all, in late March Americans were assured that checks will be produced as fast as possible. Still no date, though.
Time is of the essence as March has seen an unprecedented number of 10 million Americans filing for unemployment benefits. With mortgage, rent and other payments due despite the economic situation, stimulus checks (also called economic impact payments) may help many families survive through upcoming weeks. However, for many the waiting period may be counted in months rather than weeks.
Treasury Secretary Steven Mnuchin hinted the checks would come this month, however it may turn out that many families will have to wait at least 2 months, possibly as long as 4 months. Taxpayers with direct deposit details on file should be the first to get their money, this means 60-70 million Americans may hope for their checks to arrive before the end of April.
