SALEM — Oregonians are in line for a big personal income tax credit, in the form of Oregon's unique “kicker” rebate, when they file their taxes in 2020.
That’s because the state has collected far more money over the past two years than was expected, state economists Mark McMullen and Josh Lehner said Wednesday, May 15. Personal income tax collections during the first quarter of the year were the highest on record.
In most states, any extra revenue goes to the state legislature to spend. But because Oregon law requires the stake to “kick” much of its unanticipated money back to taxpayers, the state gets to keep only a portion.
“Relative to our counterparts in other states, this is a difficult day for us,” McMullen said. “This has been a really nationwide phenomenon in terms of the revenue surge, but . . .