SALEM, Ore. (AP) – Oregon’s projected “kicker” tax rebate will decrease by $108 million under a bill passed by Democrats in the state Senate.
The Oregonian/OregonLive reports that for individual taxpayers, that would translate to a 14.5 percent reduction to their kicker rebate when they file their taxes in 2020, if state economists’ most recent revenue forecast holds.
House Bill 2975 was passed by the Senate Monday. It already passed the House and is headed to Gov. Kate Brown, who must decide whether to sign it into law. Brown’s deputy communications director Kate Kondayen declined to say whether Brown plans to sign the measure.
In February, economists predicted the kicker could reach $748.5 million. It represents the amount of taxes collected above and beyond what state officials projected they would take in before the start of the two-year state budget cycle.