Progress stalls on push to refund $300 million in Oregon taxes on stimulus checks msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Progress stalls on push to refund $300 million in Oregon taxes on stimulus checks
Today 6:44 AM
Oregonians who received stimulus payments still came out way ahead, but they owed an extra $333 in state taxes on average.
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Oregon lawmakers appeared on a fast track last March to refund $300 million in personal income taxes the state collected on federal stimulus payments over the past year.
Members of both parties agreed that Congress never intended those stimulus checks to be taxed, and lawmakers seemed to be working collaboratively on a solution that would refund most or all of the money to 900,000 Oregon taxpayers.
Stimulus bill will send billions to Oregon families, but they may owe millions in additional state taxes
Updated Mar 11, 2021;
Posted Mar 11, 2021
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Oregon families stand to receive several billion dollars under the coronavirus relief bill President Joe Biden signed Thursday, money aimed at helping households recover from one of the deepest economic downturns in American history.
But in Oregon, unlike most other states, the relief programs will also generate higher state tax bills unless the Legislature acts to exempt them. Lawmakers are working on a plan that would offset the higher taxes with direct payments to low-income Oregonians.
Here’s the issue: Oregon is one of six states that allow residents to deduct part of their federal taxes from their state income taxes. That usually means a lower Oregon tax bill for most people.