According to the San Francisco Gate, studies show that taxpayers are not likely to spend the refund checks they will receive from the federal government this spring. According to the results people are much more likely to save the money or use it to pay off previously acquired debts. This may help individual taxpayers take better control of their own personal finances, but would not stimulate the economy the way Congress is hoping.

A few weeks ago, the U.S. House of Representatives passed a stimulus package which would send rebates of up to $600 to single taxpayers, $1,200 for married couples, and an additional $300 per child. The plan began to phase out for individuals earning more than $75,000 and married couples making more than $150,000. Recently the U.S. Senate passed a version of the package that would provide up to $500 for individuals, $1,000 for married couples, and $300 per kid. The Senate’s rebates would start phasing out at twice the income limits of the House’s plan and would extend the rebates to seniors living solely off Social Security payments and disabled veterans.