Treasury Secretary Steven Mnuchin on Tuesday handed President Trump a debit card with his name on it that resembles the prepaid cards containing coronavirus relief payments that will be sent to millions of Americans.
“I’m pleased to show you what a debit card looks like with your name on it, Mr. President,” Mnuchin said at a Cabinet meeting.
“Now, there’s no money for you on it. This is a blank debit card,” Mnuchin added. “But I want you to see what many Americans will now get so that we can get their money to them even quicker. And going forward, we think debit cards are a safe and secure way of delivering refunds.”
“Do I sign the letter again?” Trump asked, referencing the letters with his signature that the IRS is sending people to inform them of their payments.
“The next time we send money, you’ll get to send another letter,” Mnuchin replied.
Mnuchin showed Trump the debit card one day after the Treasury Department announced that nearly 4 million people will receive their direct payments via prepaid debit cards rather than by paper checks.
Under the $2.2 trillion coronavirus relief law Trump signed in late March, most Americans are receiving one-time payments of up to $1,200 per adult and $500 per child. Mnuchin said Treasury has already delivered more than 140 million payments, the majority of which were sent to people by direct deposit.
The people who will be receiving their payments via prepaid debit cards have not provided their bank information to the IRS and have had their tax returns processed by the IRS’s service centers in Andover, Mass. and Austin, Texas.