Treasury: $242 billion in new relief payments already sent
WASHINGTON (AP) — The Treasury Department says it has sent out 90 million economic impact payments totaling $242 billion since President Joe Biden signed a $1.9 trillion pandemic relief plan last week.
The bulk of those payments were made by the IRS as direct deposits. Officials said Wednesday that recipients started to see the payments showing up in their bank accounts last weekend. In addition, Treasury has mailed out roughly 150,000 checks worth about $442 million.
Processing of the payments began last Friday, the day after Biden signed the American Rescue Plan.