Treasury Secretary Steve Mnuchin, President Donald Trump and the rest of the White House have all been negotiating fiercely to pass the unprecedented $2.2 trillion stimulus deal – which will give all Americans $1,200.
The hard part is over and relief is coming.
And according to Mnuchin, the “Trump Checks” will start arriving at doors across the country in approximately three weeks.
For those who want the money faster, Mnuchin says, an online system will soon be created for U.S. citizens to register a direct deposit, where the money will be transferred straight into the user’s bank account.
Those who don’t access the online feature will receive checks in the mail.
According to Fox News’ Edmund DeMarche: “Individuals are eligible for payments up to $1,200, but that decreases for those who earn an adjusted gross income of more than $75,000 a year.
“The bill says that the payment is reduced by five percent of every dollar above that mark, or $50 for every $1,000 above $75,000.
In addition to the timetable that American taxpayers can expect to see their money, Mnuchin also presented a timetable for when the entire country as a whole is expected to get back on track.
It’s no secret that COVID-19 has thrown global markets into a tailspin – an America is no exemption.
But Mnuchin says Q3 has brighter days ahead for the country.
It’s only a matter of when the good times come rolling again – not if, he said.
“We’re gonna re-open this economy,” Mnuchin added. “And in the third quarter of this year, you’re gonna see this economy bounce back with very large GDP numbers and low unemployment back to where we were beforehand.”
The Horn editorial team