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Ore. Senate panel links “kicker” to capital gains

The Columbian
Published: May 4, 2011, 12:00am

SALEM, Ore. (AP) — A state Senate committee has advanced a bill that would ask voters to reduce the “kicker” checks they get when state revenue exceeds projections.

The Senate Finance and Revenue Committee moved the idea to the full Senate on Wednesday. In a compromise to pick up bipartisan support, lawmakers linked the proposed kicker changes to a reduction in capital gains taxes.

Corporations and individuals in Oregon get kicker checks when the state collects more in taxes than anticipated. Some lawmakers from both parties say the checks promote volatility in state budgets and make it difficult for the state to save surplus money during good times for use during economic emergencies.

The Senate proposal would divert some kicker money into state savings accounts.

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