Yellen Rallies Her Team Amid Drive to Send $1,400 Checks in Days
(Bloomberg) -- Treasury Secretary Janet Yellen braced the agency’s 84,000 workers for long hours ahead as they work to push $1,400 in checks and direct bank deposits to millions of Americans, starting this weekend.
In an email to staff sent Thursday, Yellen thanked the team for “late nights” and “tough calls” as they worked “in the furnace of a crisis.” The note, obtained by Bloomberg News, was circulated just over an hour after President Joe Biden signed the $1.9 trillion pandemic-relief bill into law.
The new law provides $1,400 to low- and middle-income families, rental assistance, additional child-tax credits and new health-insurance subsidies, while extending a $300 per week supplemental unemployment benefit into September.
State and local governments will get more than $360 billion, cash-strapped union pension funds get a rescue, schools are set to receive money to speed re-opening and funds will go to ramp up vaccinations.
Most of that will be shoveled into the U.S. economy by the Treasury Department.
“I know many of you have been laboring tirelessly to implement programs from last year,” Yellen said to Treasury employees. “It’s a huge responsibility, but one we should be very excited to accept. Because if we do our jobs right, then we accelerate this recovery.”
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