An estimated 175 million Americans will receive stimulus payments this week or the next, said President Donald Trump’s economic adviser, Larry Kudlow.
A massive, $2.2 trillion stimulus package was passed in Congress that will send out payments of $1,200 to most Americans and $500 for children under the age of 17. Treasury Secretary Steven Mnuchin and Kudlow have both previously said that the payments would go out in mid-April.
“The president is very much looking at how we can reopen parts of the economy,” Mnuchin remarked. “There are parts of the country, like New York, where obviously this is very, very concerning. There are other parts of the country where it’s not.”
Individuals earning up to $75,000 will get a check for $1,200, while couples earning up to $150,000 will get $2,400. And parents get $500 for every child under the age of 17. To qualify for a direct payment, one has to have a Social Security number, meet the adjusted-gross-income thresholds, and file your taxes either independently or jointly with a spouse.