Stimulus checks could be deposited Tuesday night; paper checks to be mailed Wednesday

WASHINGTON, D.C. — Treasury Secretary Steven Mnuchin said direct payments to Americans, which were signed into law by President Donald Trump on Sunday, could be deposited as soon as Tuesday night.

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.@USTreasury has delivered a payment file to the @FederalReserve for Americans’ Economic Impact Payments. These payments may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week (1/2)
— Steven Mnuchin (@stevenmnuchin1) December 29, 2020

These are the $600 payments Trump approved Sunday.

Mnuchin added that paper checks could be mailed as soon as Wednesday.

“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” Mnuchin said in a statement.

In a tweet, Mnuchin said the U.S. Treasury delivered a file to the Federal Reserve for the payments. Mnuchin added that direct deposits could hit some accounts by Tuesday night and will continue into next week. Mnuchin added that paper checks will be mailed beginning Wednesday.

Paper checks will begin to be mailed tomorrow. Later this week, you can check the status of your payment at https://t.co/pFBzGzK8mD. (2/2)
— Steven Mnuchin (@stevenmnuchin1) December 29, 2020

Mnuchin’s announcement came after House Democrats on Monday passed a measure to increase the stimulus payments from $600 to $2,000. The $2,000 figure was the amount sought by President Donald Trump, a move that caught many Republicans by surprise.

On Tuesday, Democrats attempted to get the measure approved in the Senate, but the first voting attempt was blocked by Majority Leader Mitch McConnell.

Trump was not happy with the delaying tactics, tweeting that “Unless Republicans have a death wish ... they must approve the $2,000 payments ASAP,” adding that “$600 IS NOT ENOUGH!”

Unless Republicans have a death wish, and it is also the right thing to do, they must approve the $2000 payments ASAP. $600 IS NOT ENOUGH! Also, get rid of Section 230 - Don’t let Big Tech steal our Country, and don’t let the Democrats steal the Presidential Election. Get tough! https://t.co/GMotstu7OI
— Donald J. Trump (@realDonaldTrump) December 29, 2020

Mnuchin added that if additional legislation is passed to provide an increased amount, the Treasury Department payments “will be topped up as quickly as possible.”