Optimistic economic projections for Oregon could lead to another - KPTV - FOX 12

Optimistic economic projections for Oregon could lead to another ‘kicker’ for taxpayers

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SALEM, OR (AP) -

A forecast from Oregon's state economist predicts strong economic growth and low unemployment will drive roughly $752 million more to state coffers than 2017 estimates predicted, triggering automatic kickbacks to taxpayers and schools.

The taxpayer give-back, called the kicker, is an automatic provision that causes Oregon taxpayers to get a credit when forecasts are revised upward by more than two percent, effectively transferring some of the money back to residents.

If the forecast proves correct a total of about $555 million will go to taxpayers as credits on their 2019 taxes. A similar provision will funnel the remaining $152 million to school budgets.

The forecast, released Wednesday, is the latest of several to be revised upward as markets around the country continue growing after the 2008 recession.

Copyright 2018 The Associated Press. All rights reserved. 

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