Print this ArticlePrint this Article Email this ArticleEmail this Article
Text Size: A | A | A

Economists say state revenue up slightly

 Posted: 12:05 PM February 15, 2013

SALEM, Ore. — State economists say Oregon will have an additional $87 million to spend in the two-year budget period that begins in July.

Experts say many taxpayers are pulling investment income into 2012 to avoid potential increases in federal taxes. Corporate income taxes are also coming in slightly higher than the last projection three months ago.

That will give the state an influx of cash this year that can be used in the next budget, but it will also reduce collections in future years.

State Economist Mark McMullen says it's "as likely as not" that the unexpectedly high corporate income tax collections could trigger the corporate "kicker," a tax refund that corporations get when corporate tax income exceeds projections.

McMullen says economic growth is improving a bit but is still slower than typical economic recoveries.

— Associated Press


Reader Reaction
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form. New comments are only accepted for two weeks from the date of publication.
COUPON OF THE WEEK