Bill introduced to cancel tax kicker

Oregon Rep. Tobias Read (D-Beaverton) wants to use the extra money for budget reserve, education.

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Oregon Rep. Tobias Read (D-Beaverton) wants to use the extra money in the state coffers for budget reserve and education.

The bill comes a week after state economists announced a rosy forecast that included more than $470 million in kicker funds for Oregonians. 

From the Associated Press:

Read’s bill faces long odds. It would require a bipartisan vote of two-thirds of the House and Senate. Republicans oppose taking money promised to taxpayers, and senior Democrats have acknowledged it’s unlikely to happen. Still, Read says the bill would help stabilize Oregon’s volatile budget and provide badly needed money for education.

“Putting it in reserve funds and investing it in education are the things that are going to do the most good for the most people,” Read said.

 Republican leadership panned the bill, according to the AP.

“My prediction is, for this one party in charge of Oregon, it will never be enough,” said Rep. Mike McLane of Powell Butte, the House Republican leader. “They want your money, they want your kicker, and they’re prepared to blame you for their bad priorities.”

Oregon’s kicker law applies when tax collections during a two-year budget cycle exceed expectations by at least 2 percent. When that happens, unanticipated money is kicked back to taxpayers as a credit on the following year’s tax return.

McLane said in March that “the majority party wants your kicker,” according to OPB.