Rainy day fund will provide needed stability for services
Sometimes in Oregon our economy struggles.
That's exactly why on March 8, House Democrats brokered a compromise in which 48 members of the Oregon House, including myself, came together in a historic bipartisan effort to create the first rainy day fund in Oregon's history.
The purpose of the fund is simple: to provide stability for our state's essential services when our economy struggles. In addition, the agreement I supported will give nearly $25 million in tax credits this year alone back to Oregon's small businesses.
By creating the fund we not only set aside responsible savings for the future, we improve the state's credit rating, which will immediately result in $10 million dollars of annual savings for Oregon taxpayers.
I voted for a rainy day fund through a one-time suspension of the corporate kicker because I am committed to putting an end to the practice of spending every dime.
This fund is a good first step towards creating a culture of saving for the future without raising taxes or expecting our small businesses to pay for it.
State Rep. Chuck Riley