U-M study: 22 pct spent tax rebates

ANN ARBOR, Mich., Nov. 16 (UPI) -- A University of Michigan study indicates nearly 80 percent of Americans who received federal income tax rebates this year decided to save the money or use it to pay off debt. In a survey of 1,500 U.S. households, U-M economists found only a small number of rebate recipients planned to increase their spending.