Stimulus Money to Come Later Than Projected for Millions of Americans

Millions of citizens still waiting for their stimulus checks will have to hold out a little while longer.

Recipients of Social Security retirement, survivor, or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI) and VA Compensation and Pension (C&P) are now expected to receive their Economic Impact Payments by mid-May, reported USA Today.

Those individuals were initially told they could expect their stimulus check payments on Direct Express cards by early May. Direct Express has since updated the time frame by announcing the slight delay.

“We anticipate that most eligible Social Security, Supplemental Security Income (SSI), Veterans, and Railroad Retirement Board recipients will receive their Economic Impact Payments to their Direct Express® card no later than mid-May,” the company said on its website.

Over 4.5 million Americans, many who do not have bank accounts, receive their Social Security or veterans benefit payments on the prepaid cards.

Following the signing of the CARES Act, Direct Express noted that stimulus check payments would begin to be deposited on the cards starting the week of April 27th. While some did obtain their payments successfully, others complained about not having received any money as late as May 5th, the outlet said.

Even a small delay in receiving the payments can be devastating.

"For most cardholders, this payment is their sole source of income and is essential for basic living needs such as housing, food and medicine," reported the Bureau of Fiscal Service.

The first wave of stimulus payments went out mid-April to help ease the financial burden for Americans affected by the coronavirus pandemic.

The checks are part of the $2.2 trillion coronavirus relief bill called the CARES Act passed by Congress at the end of March.

Individuals making up to $75,000 ($150,000 for married workers) will receive payments of $1,200, with an additional $500 payment per minor child.

On Friday, three Democratic senators proposed a new stimulus package.

If passed, the legislation would send a monthly $2,000 check to individuals who make less than $120,000. Married couples would receive $4,000, with an extra $2,000 for each child up to the age of three.

Trending Coronavirus Coverage From RADIO.COM
—Disney World receives guidelines for when parks eventually reopen
—How likely is a second stimulus check?
—Families face ‘tough love’ conversations as coronavirus infects whole households
—6 creative ways to celebrate Mother’s Day while social distancing
—No stimulus check yet? 6 reasons why it may be held up
Doctor who pushed vitamin treatment for COVID-19 charged with fraud
Heartburn medicine being studied as possible treatment for coronavirus
—30-year-old teacher dies of coronavirus after symptoms were dismissed as panic attack

LISTEN NOW on the RADIO.COM App
Follow RADIO.COM
Facebook | Twitter | Instagram