WASHINGTON—Treasury Secretary Henry Paulson said on Thursday that tax rebate checks to 117 million Americans could be in the mail within 60 days of Congress approving an economic stimulus package.
"Within 60 days of enactment, with the caveat that for about a two-week period beginning in the middle of April there's a very heavy load of payments going out of Treasury...we'll be able to begin making payments," Paulson told a White House briefing.
The stimulus program offers tax relief of up to $600, while married couples would see help up to $1,200, plus $300 per child.
Paulson said most of the checks should be out "in something under 10 weeks from the time we start mailing them."
He turned aside a reporter's question whether the U.S. economy will be able to avoid recession, saying: "In my judgment, it's going to continue to grow at a slower pace but the risks are clearly to the downside."
He said in light of the fact that downside risks were present, it made sense to move forward quickly with a stimulus package.
"It's too much of a risk to wait," Paulson said.
(Reporting by Glenn Somerville, Editing by Chizu Nomiyama) REUTERS
