WASHINGTON (Reuters) – The U.S. Treasury on Wednesday stated it has despatched 90 million direct funds price about $242 billion to People from President Joe Biden’s $1.9 trillion coronavirus reduction bundle, with extra funds to be distributed in coming weeks.
Many of the funds have been despatched by direct deposit to recipients’ financial institution accounts beginning on Friday, the Treasury stated in a press release, including that the primary cost batches have been now totally out there to be spent.
The Treasury stated it additionally mailed out 150,000 paper checks price $442 million.
White Home press secretary Jen Psaki stated the big variety of checks and deposits made confirmed the administration was working to perform Biden’s promise to ship 100 million funds to People in 10 days.
Treasury Secretary Janet Yellen additionally reassured the governors of Kentucky and South Carolina that her division was racing to get funds to households, states and native governments.
The Treasury stated Yellen spoke earlier on Wednesday with Governors Andy Beshear of Kentucky and Henry McMaster of South Carolina, who co-chair the financial restoration process drive of the Nationwide Governors Affiliation.
“Secretary Yellen conveyed how the Treasury Division is working around-the-clock to get funds to households, states, and native governments, rapidly and effectively, as People proceed to fight the pandemic and get well from the present well being and financial crises,” it stated.