Treasury: $242B worth of stimulus checks have gone out to 90 million Americans

The Treasury Department has started distributing the third round of stimulus checks and has so far sent $242 billion worth of payments to 90 million Americans.

The state of play: $1,400 stimulus checks are set to go out to all adults making under $75,000 annually. It's the highest stimulus check disbursement yet, following a $600 disbursement in winter and a $1,200 disbursement last spring. The latest round of payments began processing on March 12.

• The initiative is part of a larger $1.9 trillion coronavirus stimulus bill last passed week, which also included aid for state and local governments, schools, restaurants and more.