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U.S. Treasury and IRS Have Sent Out $242 Billion in Stimulus Checks So Far

  • More than half of $410 billion approved is now distributed
  • Most of the payments so far have been via direct deposit
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WATCH: A third round of direct stimulus payments will entail more than $410 billion in cash transfers to low- and middle-income American households. (Source: Quicktake)
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The federal government has distributed more than half of the $410 billion in stimulus payments to individuals approved in the pandemic-relief bill signed by President Joe Biden this month, in a cash injection set to boost the U.S. economy.

The $242 billion disbursed so far have gone to approximately 90 million households, according to a statement from the Treasury Department on Wednesday. The first payments were mostly sent by direct deposit, which some started receiving this past weekend, the Treasury said.