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Are the recently issued “economic stimulus” tax rebates having an effect on your business or businesses in your area?

District Voices

July 1, 2008

Are the recently issued “economic stimulus” tax rebates having an effect on your business or businesses in your area?

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Actually, we have had decent response on that. I'm pretty pleased. A lot of people have made the comment that they wouldn't be buying if not for the check. ... There were some people that were out shopping [last month] in anticipation of the check as well. … I don't know if it's the severe spike that we were all hoping for, but I would say it has definitely been a factor in our store.
Bill Klabunde, Manager
Furniture Deals and Steals—West Salem, Wis.

We obviously don't know yet if people are going to spend them on vacation, other than the research that we've seen. We've read countless stories or articles where people are asked, ‘How are you going to spend this money?' And there's a percentage of people that are claiming it's going to be fun money and they're going to maybe go on vacation, but I don't know how it's going to really shake out. I'm hoping obviously that they do spend on that, but every week, the price of gas goes up as well. Our inquiries are very strong, as far as to our advertising.
Tom Nemacheck, Executive Director
U.P. Travel & Recreation Association—Iron Mountain, Mich.

I don't think we're seeing, personally, that it has any effect on our business whatsoever. It's been steady, but I mean we're not seeing a huge increase or anything like that due to it. Those [checks] just started to come out. … But right now we're not seeing a direct increase from it. … I just think it's too soon for us to tell.
Kim Morris, Marketing Director
First Gold Hotel and Casino—Deadwood, S.D.

We do have a tax stimulus offer out there, and a few people have taken advantage of it. It was 10 percent additional on a Hugo's gift card to what the check value was. … But business has been consistent pretty much through April, and so far May has been consistent too. … People make lots of adjustments to food buying, and I think we're seeing some of those adjustments being made. … I think the price of gas is what's really driving people to make more decisions on everything.
Doug Driscoll, Director of Operations
Hugo's Family Marketplace—Grand Forks, N.D.

I'm estimating probably about three out of 10 [clients] are actually paying on accounts with that tax rebate. Actually, of all the clients that have paid off their accounts, I would say 30 percent of those have been a direct result of that stimulus check.
Sharon Welborn, Branch Manager
Debt Reduction Services—Billings, Mont.

I have yet to hear somebody comment that they were spending their check, but we certainly have seen a spike in business in about the last three weeks. … Most of our customers are higher-end customers, so I'm not surprised that nobody has said, 'Hey, I'm spending my check,' but we have seen a little spurt in business.
Bill Soderholm, Owner
Stereoland—Minneapolis, Minn.