It is also the only code that does not penalize you for saving. If you don’t spend it, you don’t pay tax on it, therefore you have a much greater incentive to save your money.
However, it will reduce the burden greatly on the upper income ranks, so there will be more money to spend, so I don’t think it will hurt the retail markets at all, will likely help them.
That doesn't mean the have to, or will spend it in the US.