Oregon politicians passed HB 2975 which steals $108 million out of people’s Kicker Income Tax Refund by using a budget gimmick. It is liek pick-pocketing taxpayers and hoping they do not notice. The politicians would take more but the Kicker law is in the Constitution. HB 2975 now heads to the Governor.
The Kicker is kicking because tax revenue (Income tax, business taxes, lottery) has been booming beyond forecast. This excess over-collected revenue should 100% be returned to taxpayers by law. Instead the politicians are taking this one-time cash grab and spending it on permanent budget expenses, which means taxes will be raised in the following budget year in order to maintain the spending levels they just inflated.
