Please contact your representative now, via our handy system, and tell him or her that you want to fix the kicker without giving a tax break to Oregon’s most affluent citizens as any part of the “deal.”
As you may already know, the Oregon tax kicker “kicks” revenue back to taxpayers when the state economist underestimates the coming two years of revenue by anymore than 2%! For example, if the state economist predicts the state will receive $100 million in revenue and it actually receives $103 million, the kicker kicks. How many of us can guess what our income will be–within 2%–for July 1, 2011 through June 30, 2013? It’s no surprise then that the kicker kicks even when we’re in an economic downturn, and unfortunately that is a possibility we can no longer afford.
There are ways to fix the kicker that are fair to taxpayers and also accumulate a rainy day fund for the state—without also giving a new tax break to Oregonians who have capital gains. It’s time for all of us to barrage our House representatives with calls, questions at town halls, and personal appointments. Please urge your representative to act on kicker reform without a giveaway on capital gains.