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Treasury Secretary Steven Mnuchin said Monday that the government would begin to send out $600 checks to millions of Americans next week.
“People are going to see this money the beginning of next week,” Mnuchin said, in an interview on CNBC.
Now read: With coronavirus aid deal made, both parties claim victories ahead of Monday’s votes.
This money will recirculated in the economy and will help small business, the Treasury secretary said.
Another boost for small business is that they will also be able to deduct their expenses related to the Paycheck Protection Program.
Mnuchin said President Donald Trump was also pleased the legislation restored the deductibility of business-meal expenses.
Experts note that unemployed workers will see a lapse in their benefits no matter how quickly lawmakers act this week.
Read: 12 million jobless Americans will temporarily lose benefits
The bill also expected to extend the nationwide eviction moratorium for one month until the end of January.
Lawmakers released a text of the stimulus package in the early afternoon.
Stocks were lower on Monday as investors worried about a new strain of the coronavirus in the UK. The Dow Jones Industrial Average DJIA, +0.20% was down 192 points in late morning trading.
