The U.S. Treasury has announced that it will send out prepaid debit cards for virus relief funds. Showcasing the card at the Tuesday cabinet meaning, Secretary Steve Mnuchin revealed that the treasury card will feature President Donald Trump’s name on it. Trump isn’t paying the funds and they aren’t coming from his bank account, rather they’re coming from the U.S. Treasury.
At cabinet meeting, Treasury Secretary Mnuchin shows off a prepaid debit card the government is using for virus relief payments. It has Trump's name on it.
— James Oliphant (@jamesoliphant) May 19, 2020
Prepaid debit cards are secure, easy to use, and allow us to deliver Americans their money quickly. Recipients can immediately activate and use the cards safely,” Mnuchin revealed in a statement earlier Tuesday.
Thus far about 140 million Americans have gotten their relief payments from the government, for a total of $239 billion. Most of the payments came through direct deposits using past tax return information or social security payments. If the IRS doesn’t have the information paper checks were sent. Some benefit recipients will get their payments through the debit card, however.
While Trump’s signature wasn’t what appeared on the paper checks, they put his name in the memo line.
An estimated 4 million Americans will get the “Trump debit card.”
See the video below:
— CBS News (@CBSNews) May 19, 2020