Despite $184 million in bonus surplus tax revenue, lawmakers go tax crazy
By Taxpayer Association of Oregon
The state of Oregon just announced a $184 million surplus in tax revenue surging into state coffers. Despite the $184 million surplus, lawmakers are looking at nearly a billion dollars in higher taxes.
The politicians are looking at a 72-cent gas tax increase (Carbon Tax/Cap-and-Trade SB 1530), 20% hotel tax increase (Hb 40407), Forest Land Tax (Sb 1516), 20% DEQ fee increase (Sb 5702), DEQ Mattress Bed tax (Sb 1564) and a new home sales tax (Ballot referral HJR 203).
The $184 million surplus is fragile. Much of it is based on lottery sales, marijuana tax revenue and one-time death tax collections from a handful of high value estates. Also, the booming Oregon economy is disproportionately impacted by a few tech companies in Oregon. This means our economic rewards are not broad-based and could be reversed in a short time.
If you raise a billion in new taxes at an economic high point you are at high risk for setting up the next budget to fail. This is the cursed cycle of Oregon lawmakers who have been on a quest to tax-and-spend as much as humanly possible. It is making Oregon’s budget unsustainable and over-taxed. Politicians should show discipline and make tough budget decisions during good times when it is easier, rather than waiting for the next down cycle.
These big taxes (Carbon tax SB 1530, hotel tax increase Hb 40407, Forest Land Tax Sb 1516, DEQ fee Sb 5702, Bed tax Sb 1564 and a new home sales tax HJR 203) should be rejected.
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Taxpayer Association of Oregon – Since 1999
PO Box 23573
Tigard, OR, 97281