Why Governments Still Use Paper Checks in 2026

The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending · Jun 3, 2026 · 9m · transcript

In an era of Venmo and FedNow, the U.S. federal government still issues over 140 million paper checks each year. Lucas and Luna dig into why — from the Treasury's legacy payment systems to the 1.2 million Americans who rely on mailed checks because they lack bank accounts. They look at the 2023 Bipartisan Infrastructure Law's push for digital payments, the 2025 Treasury pilot that cut check costs by 40 percent in four states, and the surprising reason the IRS still mails refunds. A concrete look at fiscal inertia and the hidden costs of cash flow.

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