They’ll still spend it. Or put it in the bank where most of it will become a loan. A big part of this isn’t just helping those that lost money get some of it back. It’s jump starting the movement of money, give the economy some momentum. Money never just gets spent once, a worker gets paid, and he spends, which turns into somebody else’s pay, or go to suppliers, and round and round and round. Pull that plug at any point and the money motion stops. This is a kick start, push some motion. Honestly they’re probably hoping a lot of it goes to folks who don’t “need” it. Those people are likely to see it as “fun” money, splurging at nice restaurants they don’t normally go to, or maybe buying that high end phone they can never justify. Make the wheel spin.
Will people have to submit tax returns first? How else will they know who makes under 75?