By Taxpayers Association of Oregon
Oregon’s state economists released the September “Economic and Revenue Forecast” this week. These forecasts are issued every 3 months and are used by legislators and the Governor’s Office to make budget and spending decisions, as well as calculate any expected tax rebate – aka the “kicker.” The September forecast is now projecting that Oregonians can expect to receive individual kickers totaling $1.9 billion next year. This is great news! The kicker is one of the only tools available in Oregon to restrain the growth and cost of government. For those with annual incomes between $29K-52K, the kicker will be approximately $440; and for those making between $52K-95K, the kicker will be around $790.
You can calculate the Kicker Refund below.
Yet even with the kicker, state economists are now saying that we will have over $5 billion in “ending balances and reserves.” Meaning, after government has paid all its budget bills and paid the kicker, it will still have over $5 billion left over. This is our money! It is money we all have paid in taxes, and it clearly shows that our taxes are too high. The kicker is not enough. It is clearly time to lower taxes and let Oregonians keep more of their own hard-earned money, instead of letting legislators in Salem spend our money on wasteful projects or just sit on it with gargantuan reserves.
The Kicker will be claimed as a Kicker tax credit when you file your taxes next year.