Coronvirus relief checks coming in 3 weeks

Darnell Taylor
April 3, 2020

Treasury Secretary Steve Mnuchin said there will be a web-based application for residents without direct deposit.

That's when the money will begin to appear in bank accounts of those whose account information is already on file, Mnuchin said on CBS's "Face the Nation". "I do know we will kill this virus, and when we do, I have great confidence that the USA economy will become roaring back".

Mnuchin said he anticipated at least a "rough" second quarter for the U.S. economy from lockdowns that the authorities have imposed and President Donald Trump said will last until the end of April.

The bill will ensure the direct payments to many Americans as well as $350 billion in small business loans.

Mnuchin also said he hopes the third stimulus package signed into law by the president last week will provide relief for 8 to 12 weeks.

Mnuchin told Fox Business host Stuart Varney that for small businesses, "these loans will be available starting on Friday. And in the third quarter of this year, you're going to see this economy bounce back with very large GDP numbers and low unemployment, back to where we were beforehand".

Unemployment Claims Set Another Discouraging Record In Mass.
A doctor speaks with a homeless man in San Francisco, California, on March 17, 2020. The number of claims has grown by over 3.3 million since the previous week.

Taxpayers earning less than $75,000 a year will be handed $1,200 checks and $500 per dependent child.

The secretary said, "And by the way, it makes economic sense".

President Donald Trump, in an interview on Monday, said that Easter Sunday will be the likely apex of the CCP virus outbreak in the United States, which is when the number of deaths as a result of the crisis reach their highest levels.

The benefit doesn't apply for individuals with incomes over $99,000.

"The loans to small businesses will be ready for processing this coming week, this coming Friday", Kudlow continued. "Our economy was the economy that was really growing in leading the world and American business is going to get through this". Last week, the Department of Labor reported that unemployment claims for the week ending on March 21 surged to 3.28 million, shattering records.

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