Tagged: Oregon Budget

Better-than-expected tax collections could trigger Oregon's unique kicker law, at least for corporations. The rebate is issued if revenues exceed initial projections by more than two percent. A newly released revenue forecast noted Thursday that business taxes have been robust enough to cross that threshold.

But state economist Mark McMullen says a final tally won't be made until later this year. "We believe that a kicker is better than a 50-50 shot. But not a sure thing. That came with a big surge in corporate taxes at the beginning of the year."

Oregon's economic outlook is looking brighter. That's according to state economists, who issued their quarterly revenue forecast Thursday. The news comes as lawmakers get ready to put together the state's next two-year spending plan.

The slow and steady improvement is still steady, just not quite as slow. The overall growth rate is still a bit behind past expansions, but state economist Mark McMullen says some of the factors holding back Oregon's economy are looking better, such as jobs and the housing market.

On the eve of a new state revenue forecast, Oregon Governor John Kitzhaber is putting pressure on state lawmakers to reach a deal over taxes and public pensions. The Democrat proposed a compromise Wednesday aimed at pleasing Republicans and Democrats in the legislature.

The Oregon House Tuesday approved a measure to renew a tax paid by hospitals and long-term care facilities. The concept isn't controversial since the institutions that pay it are largely reimbursed by federal Medicaid dollars. But the vote became a skirmish in a larger political battle in Salem.

Two days after a proposed tax hike faltered in the Oregon House, a union-backed group has filed initiatives to raise taxes on corporations. The move by Our Oregon Friday could be a repeat of a bitter tax fight three years ago.

Our Oregon has successfully led two tax campaigns in the last few years. The group estimates the six initiatives it’s looking at for 2014 would raise corporate taxes anywhere from $75 million to more than $1 billion a year.