Oregon is on track to bring in an additional $1 billion in tax revenues this budget cycle and could pay out a “kicker” tax rebate of up to $1.4 billion, state economists told lawmakers Wednesday afternoon.
Opinion: Take pride in Oregon’s kicker law
By E. Werner Reschke
Reschke, R-Klamath Falls, represents House District 56 in the Oregon Legislature.
As a legislative member of the House Interim Committee on Revenue, I heard firsthand the most recent report of glowing economic news from Oregon's state economists. Consumer spending roughly two-thirds of the economy – remains strong, job prospects are still good and overall wages continue to climb. Because Oregon’s economy closely follows the U.S. economy, we can be thankful to Republicans at the federal level for the Tax Cuts and Jobs Act passed at the end of 2017. While it is debatable whether the Tax Cut and Jobs Act created a one-time bump in the economy or not, what is certain is that consumer confidence and employment numbers, especially for minorities, are very good.
Oregon kicker: Taxpayers set to get a $1.6 billion rebate next year
Oregon taxpayers will receive an astounding $1.6 billion “kicker” tax rebate next year, up from the already record-shattering $1.4 billion rebate economists had predicted just three months ago.
The state depends heavily on personal income taxes and an unexpected surge in those payments in recent months pushed up the rebate figure.
Kate Brown proposes diverting $500 million of ‘kicker’ to PERS, rural housing and internet
SALEM — Gov. Kate Brown on Thursday laid out a detailed plan for how she would like to divert more than one-third of the state’s projected record $1.4 billion “kicker” tax rebate.
Brown has previously said she would like to cap taxpayers’ kickers at $1,000 and use the roughly $500 million that would be saved to reduce the impact of public pension costs on government budgets.
Oregon’s ‘kicker’ tax rebate could grow to record $1.4 billion
Oregon taxpayers could receive a record-shattering $1.4 billion “kicker” tax rebate next year, state economists told lawmakers during a revenue forecast in Salem on Wednesday morning.
But Democratic leaders immediately suggested that at least some of the windfall be used to help hedge against a future economic downturn and expand government programs rather than be directed back to taxpayers. House Speaker Tina Kotek named paying down the state’s public employee pension debt as one avenue to build a brighter future for Oregon.
Opinion: Democrats pick our pocket with kicker heist
By Allen Alley
How would you feel if the IRS said, "We need more money for government stuff so we decided to keep your refund checks?" I imagine you might be upset. Maybe even upset enough to put on a yellow vest and join our French brethren in protest. I bet you might even get a majority of Democrats and Republicans to agree that keeping our IRS refund checks is an awful idea. Yet in Oregon, something similar is happening and they are coming for more.
The “kicker” is one of those unique Oregon things like urban growth boundaries, the bottle bill, vote by mail and open beaches that makes us well… Oregon.
Gov. Kate Brown signs reduced 2020 kicker rebate into law
It’s official: The collective “kicker” tax rebate Oregonians will likely receive when they file in 2020 is going to be $108 million smaller, thanks to a bill Gov. Kate Brown signed into law on Wednesday.
At the last forecast in February, state economists predicted Oregon’s one-of-a-kind personal income tax rebate could reach $748.5 million. At that time, economists estimated that individuals earning the median adjusted gross income of $35,000 to $36,000 would receive kickers of roughly $180.
Oregon Democrats vote to cut ‘kicker’ tax rebate by $108 million
SALEM — Oregon’s projected “kicker” tax rebate will decrease by $108 million under a bill passed by Democrats in the state Senate on Monday.
For individual taxpayers, that would translate to a 14.5 percent reduction to their kicker rebate when they file their taxes in 2020, if state economists’ most recent revenue forecast holds.