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July 11, 2008
HP-1077
WEEK 11 WRAP-UP:
TREASURY SENT 7.530 MILLION STIMULUS PAYMENTS THIS WEEK
This week the Treasury Department sent out 7.530 million economic stimulus payments to American households totaling $5.755 billion. In total, Treasury has sent out 112.405 million total economic stimulus payments totaling $91.834 billion.
This week marks the final week of mass disbursements of stimulus payments. Payments will continue to be sent to households in small batches throughout the end of the year as returns are filed by the October 15 extension deadline. Those Americans who do not file by October 15 and still qualify for a payment can obtain their stimulus payment by filing a 2008 tax return next year.
Cumulative Total
Total Number of Payments: 112.405 million
Total Amount of Payments: $91.834 billion
Week Eleven (July 7-11)
Total Number of Payments: 7.530 million
Total Amount of Payments: $5.755 billion
Week Ten (June 30-July 4)
Total Number of Payments: 10.025 million
Total Amount of Payments: $7.775 billion
Week Nine (June 23-27)
Total Number of Payments: 9.674 million
Total Amount of Payments: $7.522 billion
Week Eight (June 16-20)
Total Number of Payments: 9.071 million
Total Amount of Payments: $6.919 billion
Week Seven (June 9-13)
Total Number of Payments: 9.526 million
Total Amount of Payments: $7.032 billion
Week Six (June 2-6)
Total Number of Payments: 9.143 million
Total Amount of Payments: $6.789 billion
Week Five (May 26-30)
Total Number of Payments: 5.757 million
Total Amount of Payments: $4.320 billion
Week Four (May 19-23)
Total Number of Payments: 6.211 million
Total Amount of Payments: $4.927 billion
Week Three (May 12-16)
Total Number of Payments: 15.575 million
Total Amount of Payments: $13.562 billion
Week Two (May 5-9)
Total Number of Payments: 22.180 million
Total Amount of Payments: $20.138 billion
Week One (April 28-May 2)
Total Number of Payments: 7.708 million
Total Amount of Payments: $7.091 billion
Payments began April 28 and will continue via direct deposit or paper check through mid-July. For a single filer, the minimum payment is generally $300 and the maximum payment is $600. For joint filers, the minimum is generally $600 and the maximum $1,200. There is also an additional $300 payment for each qualifying child.
For tax returns processed by the Internal Revenue Service by April 15 households will receive their payments according to the last two digits of the Social Security number on the tax form. On a joint return, the first number listed will determine when a stimulus payment will be sent.
REPORTS