Tags: Coronavirus | Trump Administration | treasury | stimulus | checks | stevenmnuchin

Mnuchin Disputes Slow Checks Report, Hails Web Portal

Secretary of Treasury Steven Mnuchin (Chip Somodevilla/Getty Images)

By    |   Thursday, 02 April 2020 09:04 PM

Striking back at reports Americans' stimulus check might take months, Treasury Secretary Steven Mnuchin announced a web portal to get payments to Americans via direct deposit sooner than even projected.

"I am also pleased to report that the economic impact payments, I have previously said that it will take us three weeks, I am pleased to report within two weeks, the first payments will be direct deposited into taxpayers accounts," Mnuchin told the coronavirus task force daily briefing.

The direct deposits will begin April 13 for those who had previously provided their bank account information in 2019 tax returns (if already filed) or 2018 (if 2019 has yet to be filed). The web portal will be designed to expedite payments far faster than checks.

"If we don't have your direct deposit information, we will be putting up a web portal so that you can put that up," Mnuchin said. "It is a very large priority. The president has made clear that we want to get this money quickly into your hands."

Ideally, Mnuchin says everyone will get a quick direct deposit sooner than later, debunking reports it might take as long as five months to get everyone their stimulus checks.

"I don't know where you're hearing these things," Mnuchin told reporters. "I told you this would be three weeks. I am now committing to two weeks. We are delivering on our commitments. The IRS, that I oversee: Within two weeks, the money will be in people's accounts."

Mnuchin's web portal is intended to compensate for an antiquated system that the Obama administration used in 2009 to send out checks during the Great Recession.

"Let me just say again, when Obama sent out these checks, it took months and months and months," Mnuchin said. "I am assuring the American public, they need the money now. What we are going to do – again if we have your information – you will get it within two weeks."

There will be a slightly longer lag for those on Social Security, Mnuchin admitted, but again, those checks should be sent shortly after the direct deposits are processed.

"Social Security, you will get it very quickly after that," he concluded. "If we don't have your information, you will have a simple web portal where you will upload it. If you don't have that, we will send you the checks in the mail.

"We can process checks, but in this environment we don't want checks, we want money directly into their account."

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Striking back at reports Americans' stimulus check might take months, Treasury Secretary Steven Mnuchin announced a web portal to get payments to Americans via direct deposit sooner than even projected...
treasury, stimulus, checks, stevenmnuchin
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2020-04-02
Thursday, 02 April 2020 09:04 PM
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