By Taxpayers Association of Oregon
The State has over-collected tax revenue by a record $3.7 billion. This is above what was forecasted and outside the closed balanced budget of the last State budget cycle. The voter-enacted Constitutional provision requires this over-collected funds be returned to taxpayers.
Based on previous Kicker refunds, this one could reach $900 for many average Oregonians.
This is why in a State Capitol hearing this week many lawmakers were inquiring on what could be done with the people’s kicker refund. Despite record breaking revenue in the State Legislature and despite the State budget doubling (yes doubling) over 10 years.
To keep doubling the size of government, the politicians would like a slice of that $3.7 billion Kicker refund pie.
State analysts are predicting a recession in Oregon in 2023.
There are already signs of a recession.
The State forecasts that the recession will be mild.
What if it isn’t?
This recession also puts the kicker at risk, because it slows the rate of revenue coming into state coffers and therefore increases the politicians’ desire for more revenue to fund 100% everything they want and fund the big increases, big raises, new pork barrel project programs as they have over the last decade. The State Legislature had so much Federal Covid money in 2021 that they put a billion dollars of it away in a slush fund to spend later. This is a sign of how flush your State Government has been.
As the chart at the top of this article shows, state personal income forecast revisions have exceeded expectations over the years but now will likely be in negative territory.
Taxpayers will not be able to collect their Kicker refund until when they file their (2023) taxes in April tax season in 2024.
Do you care about your estimated average $900 Kicker refund?
The Taxpayers Association of Oregon has been lobbying to protect the people’s Kicker tax Refunds for 20 years!!!
See our work below.
PROTECT YOUR $900 ESTIMATED AVERAGE KICKER REFUND