The federal government has distributed more than half of the $410 billion in stimulus payments to individuals approved in the pandemic-relief bill signed by President Joe Biden this month, in a cash injection set to boost the U.S. economy, Bloomberg News reported. The $242 billion disbursed so far have gone to approximately 90 million households, according to a statement from the Treasury Department on Wednesday. The first payments were mostly sent by direct deposit, which some started receiving this past weekend, the Treasury said. The $1,400-per-person payments, which most Americans qualified for, are arriving amid a widening reopening of businesses across the country as vaccinations rise and coronavirus infections slow. The Treasury said that payments appeared for some people starting last Friday, but with the official payment date set at March 17, the funds might not have been accessible up to that day. The average payment so far is $2,689, the Treasury data indicate. Individuals earning up to $75,000 or couples making less than $150,000 qualify for $1,400 payments for themselves and each adult or child dependent. The payments phase out as income rises, with singles making $80,000 or couples earning $160,000 not qualifying for any aid.
