If you haven't already received your tax rebate check, it will be coming soon.

Thanks to the President's Economic Stimulus plan, those who paid 2007 income taxes will get rebates of $600 to $1,200.

Rebates phase out for individuals with more than $75,000 in adjusted gross income, and for couples with more than $150,000. Those qualifying for a rebate are eligible for another $300 per child.

In 2001, the last time rebate checks were sent, consumers spent about two-thirds of their rebates, according to the National Bureau of Economic Research. The rebates played a big part in ending the eight-month-long 2001 recession by November of that year.

This time around, the bureau predicts that consumers will spend half of their checks within the first year. If that happens, the stimulus law would be a substantial boost to the overall economy even though it's less than in 2001.

Lawmakers hope consumers will take their rebates and buy big ticket items such as flat screen televisions or large appliances.

A big surge in spending could give the economy a boost, economists say.

But one survey by the International Council of Shopping Centers and USB Securities found that 43 percent of consumers would use the money for debts, and 26 percent would save it.