Legislators finalized an agreement late Monday on a $900 billion COVID-19 relief spending package that would give U.S. households a direct stimulus payment as soon as next week.
“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,” Treasury Secretary Steven Mnuchin told CNBC on Monday morning. “So, it’s very fast. It’s money that gets recirculated in the economy. People go out and spend this money, and that helps small business, and that helps getting more people back to work.”
But, how much will you get?
The quick math, families can expect direct payments of $600 for each adult and $600 for each child up to $2,400.
By comparison, the first stimulus earlier this year paid out $1,200 and $500 for children. It also took about two weeks for delivery of those payments.
Cox Media Group