President Biden Won’t Sign Stimulus Checks — And That’s Okay

US Treasury concept check to illustrate coronavirus stimulus payment on keyboard used for working from home.
BackyardProduction / Getty Images/iStockphoto

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.

Make Your Money Work for You

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

 

About the Author

Ann Logue is a writer specializing in business and finance. Her most recent book is The Complete Idiot’s Guide: Options Trading (Alpha 2016). She lives in Chicago.

Untitled design (1)
Close popup The GBR Closer icon

Sending you timely financial stories that you can bank on.

Sign up for our daily newsletter for the latest financial news and trending topics.

Loading...
Please enter an email.
Please enter a valid email address.
There was an unknown error. Please try again later.

For our full Privacy Policy, click here.