President Biden Won’t Sign Stimulus Checks — And That’s Okay
The original CARES act was signed into law on March 27, 2020. Among its provisions were $1,200 checks for many Americans, but distribution was delayed because President Donald Trump wanted his name printed on them. This was outside of the normal convention that a civil servant sign Treasury checks so that funds are not used for political reasons. Nevertheless, Treasury Secretary Steven Mnuchin agreed to President Trump’s request. President Trump’s signature was also on the $600 checks sent out in January.
See: If You Get a Stimulus Check, How Will You Use It? Take Our Poll
Find: Exclusive — Nearly Half of All Americans Missed Rent or Mortgage Payments Due to COVID-19, New Study Reveals
President Joe Biden has announced a return to past practices with the upcoming $1,400 stimulus round. MSN reports that Jen Psaki, the White House Press Secretary, said yesterday that the President did not want any delays in sending out checks. “This is not about him,” she said.
Of course, names on checks are irrelevant for the majority of recipients, who have direct deposit details on file with the IRS. The payee info line in most bank portals is too small to include names or signatures, only that the money was from IRS TREAS.
The stimulus legislation should be finalized today, and the first payments should be distributed by the end of March. Those waiting for paper checks will have to wait longer, but not because of confusion over signatures.
More from GOBankingRates
- If You Get a Stimulus Check, How Will You Use It? Take Our Poll
- How Long $1 Million in Savings Will Last in Every State
- Navy Federal Platinum Credit Card Review: Great for Balance Transfers and More
- 27 Ugly Truths About Retirement
