455 Million Reasons to Say "Thank You" to Voters
Chuck Sheketoff
Today, the interim House and Senate Revenue Committees received a report from the Legislative Revenue Office on the impacts of Measures 66 and 67 (PDF).
The bottom line:
Measure 66, the personal income tax measure, is now expected to bring in $215 million this biennium, and Measure 67, the corporate income tax measure, is now expected to bring in $240 million.
In other words, thanks to Oregon voters we have $455 million in revenue that we otherwise would not have — $455 million to support schools, public safety and health and human services that Oregonians count upon each day.
Chuck Sheketoff is the executive director of the Oregon Center for Public Policy. You can sign up to receive email notification of OCPP materials at www.ocpp.org.
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12:31 p.m.
Nov 17, '11
This is wonderful news indeed, Chuck. Thanks to the wisdom of Oregon voters and the many progressives who helped pass these measures, against all odds.
1:45 p.m.
Nov 17, '11
Let's hope that as word of Oregon's success makes it way around the country our experience will encourage others to make the same choices.
3:38 p.m.
Nov 17, '11
Chuck, if my reading is correct, it's $349 million for the 09-11 biennium for 66. It goes down to a projected $215 for 11-13.
So, make that 589 million reasons.
7:21 a.m.
Nov 18, '11
$455 is what's being generated to support this 2011-13 budget period. LRO now is estimating that the two measures brought $598 million into the last budget period, 2009-11.
10:39 a.m.
Nov 18, '11
Not sure how I messed that up, but it's not the first time...
8:32 p.m.
Nov 17, '11
But... but... the job creators! (That's the free square for Talking Points Bingo... and GO!)
10:58 p.m.
Nov 17, '11
$455 or $589 million....either way this is somewhere around 5 weeks of K-12 education. It's a lot. Well done everyone! Imagine the state without it.
9:30 a.m.
Nov 18, '11
Another round of 66 would be nice (1.8% on amounts over $250K).
9:55 a.m.
Nov 19, '11
This is brilliant, Chuck -- thanks for writing it. I would be happy to pay even more if it meant my children got a better education, my community was healthier and the most vulnerable of us received necessary care. Of course, it would be nice if corporations were in front of me at the tax office.