Tax Insider for February 24
The Oregon Office of Economic Analysis revised its revenue forecast upward; however, the written report notes that some of the increased revenues may only be an “illusion” due to the rollout of a new tax program.
Welcome back to Tax Insider! As an editorial note, I am experimenting with the delivery schedule to provide bill and hearing updates at the end of the week rather than the beginning. I figure some of you might find that useful for your own reports.
- State economists backed off from their recession projection, revising the revenue forecast upward. However, their written report outlines some concerns on the horizon.
- The Senate Finance & Revenue Committee advanced a "clean" federal reconnect bill without the revenue politics that plagued these conversations in previous sessions.
- This week's winter storm disrupted several notable revenue committee hearings, including the House Revenue Committee's first votes of the session and a hearing on enterprise zones.