Measure 66 tax revenues coming up short


Indicators suggest Oregon won’t receive nearly as much revenue from Measure 66 as originally thought.

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Indicators suggest Oregon won’t receive nearly as much revenue as originally thought from Measure 66, which set higher tax rates on households making more than $250,000 a year.

The low returns have critics who opposed the measure questioning its value.

At that pace, Oregon government would bring in less than $300 million for tax years 2009 and 2010 from the retroactive higher tax rates, instead of the $472 million that had been estimated before the election.

The disappointing revenue numbers come at a difficult time for the state. The most recent revenue forecast projects the state will have $377 million less than expected just three months ago. At the same time, state workers represented by unions are due to get pay raises — known as “step increases” — amounting to 4.75 percent starting Tuesday.

Read more at OregonLive.com.

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