Budget & Revenue State Update
With the end of session nearly in site, final budgets are beginning to near completion.
An $8.2 billion state school fund has passed through one chamber, while the Oregon Health Authority's budget passed through its Ways & Means subcommittee. Budgets funding early childhood and many others still await. As these critical budgets for Oregon's children move forward, the common refrain from legislators of both parties - we wish there were more funds.
To that note,
the three major revenue packages are holding hearings.
The new Commercial Activity Tax (CAT) now has a bill - HB 2830. The proposal will delay implantation of the new tax until 2019. In the short-term, a "bridge" will raise corporate income taxes before their complete removal when a CAT is implemented. Expect extensive discussion this coming week.
The transportation package (HB 2017) had three public hearings this past week, with more discussions to come. The Provider Assessment (HB 2391) passed through Ways & Means Human Services and may be voted on in Ways and Means before Friday.