News Item

Instead of crediting Oregon taxpayers on their state income taxes in April, a 1995 change to Oregon's one-of-a-kind "kicker" tax refund mandates that the refund be returned in the form of a check in early December. To say nothing of whether it is wise to refund over $1 billion without saving some for a rainy day fund, the cost of issuing checks in December is costing the state $23.3 million. It costs $1.3 million to print and mail the checks, and $22 million in financing to make that much cash immediately available.