The first $600 Covid-19 relief direct deposit payments hit bank accounts last night. Many Americans took to social media to confirm they received their Covid-19 stimulus payments before midnight.
Millions more checks will go out in the snail mail starting today and continuing into next week.
Treasury Secretary Stephen Mnuchin confirmed that the “Americans’ Economic Impact Payments” direct deposits hit bank accounts last night.
“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families.
“These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”
Most eligible Americans (and some non-citizens) will receive Economic Impact Payments of up to $600 for individuals or $1200 for married couples and up to $600 for each qualifying child. A family of 5 can receive $3,000.
Individuals who earned over $75,000 in 2019 or couples with combined income of $150,000 are not eligible for stimulus checks.
President Donald Trump urged Senate Majority Leader Mitch McConnell to fast-track a standalone bill to increase the payments from $600 to $2000 per American.