PETER WONG
Oregon Capital Bureau
For Oregonâs state budget, and for Oregon taxpayers, it appears everythingâs coming up roses these days.
An economic surge as the coronavirus pandemic wanes will produce $1 billion more for state coffers than state economists projected just three months ago. That will be enough to boost state spending, without cuts, as lawmakers finish work on the state budget for the next two years.
Meanwhile, that surge will result in an estimated $1.4 billion â more than twice the amount projected back on Feb. 24 â going back to taxpayers next year in the form of âkickerâ credits against their 2021 tax bills. The final figure will be determined in the September economic and revenue forecast, but the share of tax liability is projected at 13.6%.