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U.S. has issued 90 million stimulus checks worth $242 billion, Treasury says

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The U.S. has thus far issued 90 million stimulus checks worth a collective $242 billion as part of President Joe Biden’s landmark $1.9 trillion American Rescue Plan, according to a report released Wednesday by multiple government agencies.

The Treasury said it also mailed about 150,000 physical checks worth about $442 million as part of the first wave of disbursements.

The department is rolling out the stimulus checks — officially known as Economic Impact Payments — in successive “tranches.” The announcement on Wednesday detailed the first such tranche.

The first batch of payments were mostly sent by direct deposit, and some recipients started receiving their checks this past weekend, the Treasury Department and Internal Revenue Service announced. The checks began processing on March 12 and some Americans have already seen the deposits as pending prior to today’s official payment day.

The government added that this first batch of payments was sent primarily to eligible taxpayers who provided direct deposit information on their 2019 or 2020 returns.

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