The crucial revenue estimate for Oregon came out on schedule this morning, and while not-good, it wasn’t as bad as legislators were preparing themselves for. The new numbers pin the revenue shortfall at about $3.5 billion – an enormous deal, but still maybe a billion better than had been expected.
An interesting point is the reviving talk about tax options, something that had been mentioned only peripherally before. There’s talk now about an upper-income bracket increase, to raise taxes on those reporting a quarter-million or more. (In Washington a related thought – different in that it would have meant creation of an income tax where there currently is none – was raised but withdrawn.)
And now Jeff Mapes at the Oregonian notes that talk of revenue increases is centering around the figure of a billion dollars or so.
Some of this may be in the form of trial ideas, tests to see how they fly when legislators talk with the folks back home. That may have some impact on how they fare over the next few weeks, as the budget picture begins to take hold.Share on Facebook