Covid Stimulus Checks Are Hitting Bank Accounts Today
Despite all of the controversy surrounding the final amount of the Covid stimulus payouts, the first $600 payments are hitting accounts today.
US Treasury Secretary, Steve Mnuchin announced that direct deposit payments were sent last night. The direct stimulus payments are only $600 right now as lawmakers fight over an increase to $2000. If you don't see a deposit hit your account, don't freak out, there are also paper checks being mailed out today and tomorrow.
If you have not signed up with the IRS to receive a direct deposit, you can get more information on that here. You can also check the status of your payment at that link as well.
The biggest question most people have is, "What happens if the increase to a $2,000 payment gets approved?" The short answer right now is that nobody is really sure.
Right now the increase to $2,000 is caught up in political infighting that will most likely kill the possibility of more money.
I know that none of us are in a position to turn down the $600 payment, but it really is an insult to think that our government can't just do what's right for the people. Instead of just voting on whether or not to send the bigger stimulus check, politicians in Washington need to tie the payment to other political objectives.
There are plenty of issues that need to be worked out, but none of them should impact the governments willingness to make sure the people that elected them are taken care of.
I don't care which political party you claim, this is an embarrassment for the American political system.