Document text
0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Our View: Two-wheel transit ... Guest Opinion: Iran agreement has potential ... Guest Opinion: Build Phillips Field for both sports ... Our View: Two-wheel transit ... Guest Opinion: Iran agreement has potential ... Guest Opinion: Build Phillips Field for both sports ... Revenue forecast means Oregonians will see $473 million in kicker rebates Comment DailyTidings.com Writer Posted May. 14, 2015 at 11:50 AM Updated May 14, 2015 at 12:28 PM Posted May. 14, 2015 at 11:50 AM Updated May 14, 2015 at 12:28 PM » Social News Following a better than expected performance by Oregon's economy, state economists say Oregonians can expect to earn $473 million in kicker rebates at the end of the current two-year budget cycle June 30. That's $124 million more than was predicted in February. The rebate is expected to amount to more than 6 percent reduction in taxes for every Oregonian — $284 for the average taxpayer, according to economists. Oregon law requires that when revenue exceeds forecasts by more than 2 percent, the additional tax revenues must be refunded to taxpayers. The refund will appear as a credit on the next year's taxes. House Republican Leader Mike McLane of Powell Butte, whose district includes Jackson County, called the revenue forecast "welcome news and an optimistic sign that Oregon’s economy is continuing to grow." "After many years of economic hardship and sacrifice following the Great Recession, hard-working Oregonians will receive much-needed tax relief through this $478 million individual income tax kicker,' McLane said in a press release. Gov. Kate Brown's office estimates the increase will allow lawmakers to invest an additional $100 million in schools.  "I am pleased that strong economic growth will enable us to invest an additional $100 million in our public schools as well as fund early childhood, career technical, and STEM programs that support student success and reduce the opportunity gap," Brown said in a statement today. "According to the U.S. Department of Education, Oregon's 2013 graduation rate was the worst in the country. We simply must do better, and we will." The exact amount of kickers won't be fixed until after the two-year budget cycle ends in July. DailyTidings.com Writer Posted May. 14, 2015 at 11:50 AM Updated May 14, 2015 at 12:28 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with DailyTidings.com Facebook Twitter RSS Back to top Reader Services Reader Services home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Alerts Email alerts RSS feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. DailyTidings.com | P.O. Box 1108, Medford, OR 97501