Thursday, May 14, 2015

Revenue forecast: Oregon ‘kicker’ refund grows

The Statesman Journal
May 14th, 2015

Oregonians could receive ‘kicker’ tax rebates totaling $473 million, an average of $284 per tax filer.
And schools will get an additional $105 million, bringing K-12 funding to a historic $7.33 billion.
Oregon’s quarterly revenue forecast shows the state’s economy is growing faster than expected, state economist Mark McMullen told legislators Thursday, leading to a projected increase in tax revenues.
Even after the kicker refund, the 2015-17 state budget will grow by an estimated $463 million.
“This strong forecast will allow us to fill the current budget holes in public safety, human services, and natural resources in order to meet the needs of communities throughout Oregon – all while maintaining responsible reserves to protect our state from future downturns,” said House Speaker Tina Kotek, D-Portland.

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