Treasury Secretary Henry Paulson announced that the 2008 stimulus payments will be released ahead of schedule. Nearly 8 million taxpayers will receive their stimulus payments via direct deposit by Friday, May 2.
The government is trying to speed up delivery of stimulus payments so that Americans can continue to spend despite the inflationary pressures caused by high gas prices and rising food costs. The goal is to keep spending levels from dropping off, thereby minimizing the pain of the recession that is setting in.
Previously, the Treasury hoped to have the bulk of payments delivered by the end of summer. Now it appears that most rebates will be received by the end of June.
Any further announcements on stimulus payments will be posted when we receive them.
Tags: stimulus payments