PORTLAND, Ore. (KOIN) — Oregon’s revenue forecast looks good enough that residents are getting a kicker on state tax returns.
However, does that mean the state is flying high financially? Oregon State Treasurer Tobias Read told KOIN 6’s Eye on Northwest Politics that despite the economic turmoil as a result of the ongoing pandemic, Oregonians may see the largest state kicker ever.
“The kicker is triggered when receipts exceed project by more than 2%, and it’s really hard to be that precise, especially when we’re in unprecedented times like a pandemic,” he said. “Economists are doing their best to predict and then the federal government did what I would argue is a pretty smart thing in putting a lot of fiscal resources into economic support, which put our revenue ahead of those projections.”
However, he also said the kicker doesn’t indicate where the economy is, and that while in “general terms,” the state’s economy is starting to recover, he cautioned that while economists look at numbers, “but Oregonians experience the economy in their daily lives, and in that sense, I can understand why people are feeling anxious. The pandemic has affected people very differently.”
Read, a Democrat, is also looking for promotion: the governor’s role. Read launched his gubernatorial campaign in late September because of his belief in the need for “steady leadership” as the state emerges from the pandemic.
“We’ve got to stop lurching from crisis to crisis and lay out the vision we have for where we want Oregon to be,” he said.
Watch the video above for more.