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Advice from the government: how to get federal aid for coronavirus faster

Head of the US Treasury Department Stephen Mnuchin said in a morning interview on Sunday, March 29, that Americans eligible for federal assistance in connection with the $ 1 coronavirus can expect to be credited to their accounts “within three weeks,” writes Fox News.

Photo: Shutterstock

Mnuchin, who played a leading role in drafting the bill for $ 2,2 trillion, said a special online system would be created where Americans who could not expect to receive a physical check by mail would be able to register themselves.

“We expect that within three weeks people to whom we can send direct deposits will see the money in their bank accounts,” he said. “And we will create a web system for people whose direct deposit accounts are not registered with the IRS so that they can register and receive money immediately, without waiting for checks by mail.”

Individuals are entitled to payments up to $ 1200, but this amount is reduced for those who receive adjusted gross income of more than $ 75 per year. The bill says that payment is reduced by 000% for every dollar that exceeds this mark, or $ 5 for every $ 50 that exceeds the mark of $ 1000.

On the subject: Federal Coronavirus Aid: A Complete Guide to Questions and Answers

According to Mnuchin, by the third quarter of 2020, Americans will see economic recovery with increasing levels of production and employment.

“I don’t know what the numbers will be in this quarter. “I think we are going to kill this virus,” said Mnuchin. - We are going to rediscover the economy. And in the third quarter of this year, you will see that the economy will recover with very high GDP and low unemployment compared with the data that we had before. ”

In the U.S. financial aid coronavirus Special Projects

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