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Coronavirus Stimulus Checks Explained

Posted By: Lymerick
Date: Tuesday, 7-Apr-2020 14:06:12
www.rumormill.news/143978

Coronavirus Stimulus Checks Explained

175 million Americans will start receiving funds 'this week or early next,' Larry Kudlow says

Denitsa Tsekova Reporter Yahoo Money April 6, 2020

An estimated 175 million Americans will get stimulus checks with the first payments going out this week or next, according to Larry Kudlow, director of the U.S. National Economic Council.

The payments, worth up to $1,200 plus additional $500 per child, are intended to help Americans financially weather job loss, reduced work hours, and other money challenges as large swaths of the country are shut down to curb the coronavirus outbreak.

"The checks from the Treasury and the IRS [will] probably start going out, I think this week, perhaps early next," Kudlow told CNBC.

Kudlow also said glitches that small business have experienced when applying for the relief program will get worked out and told CNBC that the government is supporting the economy by, "liquidity, cash rescue, try to keep the labor force connected to the actual businesses."

While many Americans will start receiving their checks soon, it may take months for others. This depends on what banking information the Internal Revenue Service has on file and other factors. Here's what you need to know about the checks.

White House chief economic adviser Larry Kudlow talks to reporters at the White House, Monday, April 6, 2020, in Washington. (AP Photo/Evan Vucci)

When will the stimulus check arrive? It depends.

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