By Taxpayers Association of Oregon
The State just took in an unexpected and incredible $1.9 billion more in over-collected tax revenue than what they forecasted (just within the past three months). This grows the total pot of over-collected tax revenue from $3.9 billion to $5.5 billion.
Since voters put into the Constitution a law requiring over-collected tax refunds to be returned to taxpayers who paid it, many Oregon taxpayers will be seeing a healthy Kicker refund next April when they claim the Kicker tax credit.
One estimated average kicker refund size will be over $1,000 for many average Oregon taxpayers.
However, … and we do mean however … the politicians will still be in the State Capitol for next two months, and they could muster the votes to steal the entire $5.5 billion surplus or a part to spend on various pork projects. One bill already proposed, HJR 23, would steal par of the kicker to be used for rural Oregon water projects (which shows that politicians only help rural Oregon out of their surplus). This bill would require a ballot measure to be approved by the voters. The Taxpayers Association has been working against this bill in the past few months.
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