Salem Ore – Oregon taxpayers will receive a big $1.6 billion “kicker” tax rebate next year, up from the already record-shattering $1.4 billion rebate economists had predicted just three months ago.
The state depends heavily on personal income taxes and an unexpected surge in those payments in recent months pushed up the rebate figure.
State economist Mark McMullen said “We’re trying to get our heads around this.”
The outsized kicker reflects an unexpected jump in state revenue. At the same time, though, the economists warned that Oregon’s long-term outlook is showing “cracks” as growth slows and the trade war introduces new uncertainty into the economy.