“The good news is this is a very, very fast way of getting money into the economy. Let me emphasize: People are going to see this money at the beginning of next week,” Mnuchin told CNBC
That being said, the taxpayers who already have direct payment information on file with the IRS will be the first on the list.
“So it’s very fast, it’s money that gets recirculated in the economy,” he added. “People go out and spend this money, and that helps small business and that helps getting more people back to work.”
In addition to that, civilians who are eligible for payment but didn’t share their bank account information with the IRS will receive a prepaid debit card or a paper check. The Treasury can deliver a maximum of seven million paper checks per week.
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