Treasury Secretary Steve Mnuchin that Americans will begin receiving cash deposits in their accounts in two weeks, on schedule from the passing of the phase 3 stimulus last week.
Mnuchin confirmed the government was still on schedule even as the White House and Congress are weighing a fourth stimulus package now that social distancing guidelines have been extended for another 30 days. Americans with accounts capable of receiving online deposits will do so, but Americans who don’t will need to use an online portal to submit their information. (RELATED: White House Anticipates Between 100,000 And 240,000 Coronavirus Deaths)
Treasury Secretary Steve Mnuchin says Paycheck Protection Program loans will be “up and running tomorrow.” He tells businesses: “Please, bring your workers back to work if you let them go.” https://t.co/fIl9kRSKoW pic.twitter.com/LcqlNEuxRa
— CBS News (@CBSNews) April 2, 2020
The stimulus passed through Congress despite several hiccups, including a last-minute delaying action by Republican Kentucky Rep. Thomas Massie. The package included a $1,200 payment to single Americans who make less than $75,000 a year, $2,400 for families that make under $150,000 a year, and $500 for each child under the age of 17. (RELATED: March 11 Study Found That China Could Have Prevented Global Pandemic By Acting Three Weeks Earlier)
While the Senate is adjourned until April 20th, Majority Leader Mitch McConnell warned senators to “stay nimble,” as more funding may be necessary.
House Speaker Nancy Pelosi has already said she plans to begin drafting a fourth spending bill, but her Republican colleagues are more reluctant. (RELATED: Pelosi Says Senate Coronavirus Bill Is Discriminatory To Residents In DC, One Day Before House Vote)
“I wouldn’t be so quick to say you have to write something else,” House Minority Leader Kevin McCarthy said at a press conference Thursday. “Let’s let this bill work, just as long as we let the other two bills work as well. And whatever decision we have to make going forward, let’s do it with knowledge, let’s do it with the experience of what’s on the ground at that moment in time.”