In creating a package of incentives to attract chip manufacturers, the Oregon legislature should prioritize investments that will deepen the state’s talent pool, promote equity, and strengthen its infrastructure. The drive to create an incentive package stems from the congressional enactment of the CHIPS Act, which pledges tens of billions of dollars to ramp up domestic semiconductor manufacturing. Understandably, Oregon lawmakers are eager to see some of that money flow to Oregon. In putting together a package to attract chip manufacturers intent on applying for the federal funds, lawmakers should resist calls for direct corporate subsidies, which are often ineffective. At the very least, any new corporate subsidy should come with guardrails to limit the risk to Oregon.
Despite a strong economic recovery from the early months of the COVID-19 pandemic, more than two years later, many Granite Staters face challenges that make affording everyday needs difficult.
Up to 55,000 qualifying families in New Jersey may miss out on Child Tax Credit payments because the IRS does not have their information on file.
- July 1, 2021
- Marleina Ubel
From the rubble of a chaotic legislative process rises a record-breaking state budget that funds the immediate needs of New Jersey’s pandemic recovery, invests in key public assets, and pays down billions of dollars of current and future debt. Buoyed by stronger-than-expected income and sales tax collections, the $46.4 billion spending bill is approximately 15 percent bigger than last year’s budget. A large portion of the unexpected surplus is directed toward long-standing obligations like the public employee pension system and debt service on borrowing — as it should. By almost every metric, this budget sets the foundation for a strong recovery and addresses fiscal issues that have plagued the state for decades. At the same time, the Fiscal Year (FY) 2022 budget misses a significant opportunity to enact bold, transformative changes that directly address centuries of racial and economic inequities that were exacerbated by the pandemic.