House Speaker Nancy Pelosi (D-Calif.) on Monday said that she and other Democrats were pushing for $1,200 stimulus payments instead of the $600 ones that were authorized under the next virus aid deal.
“We also have in the legislation direct payments, which were not in the Republican bill, to America’s working families,” Pelosi said during the speech on the House floor. “I would like them to have been bigger, but they are significant and they will be going out soon.”
President Donald Trump over the weekend pushed Congress to provide larger stimulus payments to Americans.
Earlier on Monday, Treasury Secretary Steven Mnuchin said the stimulus payments—after Congress passes the bill—will be deposited next week.
Reports indicated that $600 payments will also be sent to children as well as adults.
“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 said in an interview on CNBC. “People go out and spend this money and that helps small business and that helps getting more people back to work,” he continued. “So it’s very fast, it’s money that gets recirculated in the economy.”
