U.S. Treasury Reports Stimulus Checks Going Out On Time; $22 Million Sent This Week

May 9, 2008 1:58 p.m. EST

Washington, D.C. (AHN) - As a part of the nationwide stimulus package plan to ease the slowdown in the economy, the U.S. Treasury Department this week sent out $22.18 million in economic stimulus payments to American households. Starting in late April, the Treasury has sent out $29.8 million in stimulus payments and will continue mailing checks to tax payers until it dispenses the $27.23 billion Congress has authorized for the plan.

Four facilities around the country will be printing about 88 million paper checks until July with payments ranging of $600 for single Americans and $1200 for married couples. Some of the parents will be receiving additional $300 for each qualifying child born after December 31, 1990.

"We've been getting a ton of calls," Eric Hollen, financial center manager for Wachovia Bank, Pottsville, told Republican & Herald newspaper. "It's mostly elderly people. They wonder when their money is coming, how much money is coming. We're throwing them back to the person who did their taxes."

People who received their 2007 regular income tax refund will get the refund first, and a stimulus payment will follow a few weeks later. The Bush administration has been looking forward to see the results of the stimulus package as the payments could boost consumer spending, which has not able to stop the slowdown in the economy.