tax rebate checks

The tax-rebate checks mailed out earlier this year put nearly $100 billion into the hands of consumers. The question now is whether the rebates worked to stimulate the economy.

Despite a relapse of gasoline conservation after the tax rebate checks came out, the drive-less trend seems to be stronger than ever.

Wal-Mart Stores says its July same-store sales rose 3 percent, slightly less than expectations, as tax-rebate checks dried up and consumers spent closer to their paycheck cycle.

Consumers stepped up their shopping in May after tax rebate checks hit mailboxes, giving many of the nation's retailers stronger than expected sales for the month.

Still, there were signs that many people are still focusing on necessities such as food and gas.

Excerpts: The stimulus plan Congress approved this month may provide less of a jolt to the U.S. economy than intended, as most Americans plan to save rather than spend their tax rebates, a Bloomberg/Los Angeles Times survey shows.