Oregon’s Tax Revenue Forecast Exceeds Expectations
SALEM, Ore. (AP) – Oregon’s tax revenue forecast has jumped again, potentially giving state lawmakers more money to spend in the next budget.
It also could drive up the likely state tax rebate that taxpayers could receive next year.
The Oregonian/OregonLive reports that a state economist told lawmakers that income taxes paid by individuals and corporations continue to outstrip economists’ expectations.
The next revenue forecast in May will provide a sharper focus and state lawmakers will base their 2023-2025 budget on that.
The state is now expected to send nearly $4 billion back to taxpayers in so-called “kicker” tax rebates next year.