Tax Insider for March 24
The Oregon Tax Incidence Model (OTIM) is one of the best dynamic scoring models in the country to estimate the behavioral response to changes in the tax code. It also might be the only tool to get some ideas across the finish line.
- The Co-Chairs of the Ways & Means Committee released their budget framework for the 2023-25 biennium. The allocation for tax expenditures is perhaps a problematic starting point as we look ahead to the session's tax politics.
- The House Revenue Committee held its third hearing on a proposal to require uniform rules for Portland's income taxes. So far, the topic has received the most air time in the committee this session.
- The Senate Finance & Revenue Committee held a hearing on proposals to exempt military retirement pay from the state income tax, which resulted in a tense moment between progressive tax groups and the committee's chair.