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PoliticsCoronavirus

Trump’s name will be on stimulus checks—after he denied wanting his name on stimulus checks

By
Saleha Mohsin
Saleha Mohsin
,
Laura Davison
Laura Davison
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Saleha Mohsin
Saleha Mohsin
,
Laura Davison
Laura Davison
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
April 14, 2020, 11:28 PM ET

Subscribe to Outbreak, a daily roundup of stories on the coronavirus pandemic and its impact on global business, delivered free to your inbox.

President Donald Trump’s signature will appear on the $1,200 checks being mailed to low- and middle-income households in the coming weeks, according to two officials familiar with the decision.

Typically, a civil servant’s signature—the disbursing officer for the payment center—would appear on regular government benefit checks or one-time economic stimulus payments.

At a press briefing on April 3, Trump denied wanting to have his name appear on the mailed payments.

“Do I want to sign them? No,” he said, but called the plan to send more than $292 million to American households a “Trump administration initiative.”

The addition of the president’s signature won’t delay the payments, a Treasury spokeswoman said. The Internal Revenue Service plans to mail the first wave of checks next week, according to the spokeswoman.

“The IRS employees are delivering these payments in record time compared to previous stimulus efforts,” according to a statement from the agency.

The IRS can send about five million paper checks a week, so the process could take months to complete.

The IRS has said it sent about 80 million payments this week via direct deposit, where Trump’s signature does not appear. In total, the agency anticipates it will send about 150 to 170 million payments through bank account transfer or via a mailed check.

The $2.2 trillion stimulus package signed into law last month allocates $1,200 to every adult earning as much as $75,000 and $500 for each of their children. The payments phase out for individuals earning up to $99,000.

The Washington Post reported earlier Tuesday about the checks going out with Trump’s signature.

Asked about the Post report on MSNBC on Tuesday night, Senate Minority Leader Chuck Schumer said, “It seems almost every day the president thinks this crisis revolves around him and his desires, his needs, his enemies.”

The House Ways and Means Committee was not consulted about the addition of Trump’s signature, and does not want the checks to be delayed for a second to add it, said Erin Hatch, a spokeswoman for the panel.

More personal finance coverage from Fortune:

—How people are planning to spend their stimulus checks
—Debt collectors could seize your stimulus check before you have a chance to use it, lawmakers warn
—No, you don’t have to repay your stimulus check money
—When will stimulus checks be direct deposited or mailed? Ensure yours isn’t delayed
—What to do if you can’t pay your bills this month
—What you should know about mortgage forbearance and skipping payments
—Everything you need to know about furloughs—and what they mean for workers
—Freelancers and independent contractors can now apply for SBA Paycheck Protection Program loans. What you need to know
—The IRS launched portal to get your stimulus check if you don’t file taxes
—Listen to Leadership Next, a Fortune podcast examining the evolving role of CEO
—VIDEO: 401(k) withdrawal penalties waived for anyone hurt by COVID-19

Subscribe to Fortune’s Bull Sheet for no-nonsense finance news and analysis daily.

About the Authors
By Saleha Mohsin
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By Laura Davison
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By Bloomberg
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