Oregon

Asset Outcomes

In a nation that is sub-par, Oregon is on the right track and ranks 3rd overall, just after Iowa and New Hampshire. Oregon earns its A based on strong rankings in human capital development through education: the state ranks 14th in overall college attainment and has the smallest gap in college attainment between whites and non-whites and the 4th-smallest gap in college attainment between high-income earners and low-income earners. Oregon also has a strong showing in financial assets? coming in 24th in the number of asset-poor households and 12th in the number of households with zero net worth, meaning that relative to other states, Oregon?s residents hold some assets and have a financial safety net. Overall, mean net worth is $139,706, ranking 7th. The gap in asset poverty between men and women is also small here, ranking 4th in the United States.

Oregon could improve homeownership, however, as it ranks 42nd and has a relatively larger gap in the rates of homeownership between upper-income earners and lower-income earners (34th), indicating problems with affordability or access to capital for lowincome homebuyers. The gap in homeownership between whites and non-whites offers good news, as it is relatively small (12th).

Oregon is only fair in health care measures as a form of asset protection. The state ranks 30th in the percentage of uninsured low-income children and 17th in the percentage of uninsured low-income parents.

Asset Policy

Oregon earns an A in Asset Policy to accompany its A in Asset Outcomes. The state is trying to address the problems of affordable homeownership with an array of policies. The state ranks 15th in terms of allocating private activity bonds for mortgage revenue bonds, provides capital through a state housing trust fund, and has multiple first-time homebuyer assistance programs. For financial asset building, the state has implemented Individual Development Accounts and offers a state Earned Income Tax Credit to allow low-income workers to keep more of their pay and have more to save. Oregon supports small business development in a number of ways?through small business investment company dollars (21st in funding levels), capital access programs, and state microenterprise programs.

Oregon is also a strong standout on health care policies, meaning household finances are better protected against illness. It is one of nine states to offer a subsidy for small business health care coverage and one of 10 states that extends Medicaid to low-income adults without children. Oregon also ranks 15th in Medicaid expansion for low-income parents.

Tax Policy and Accountability

Oregon has a very good record on tax policy accountability. The state prepares a tax expenditure report that itemizes the value of revenues lost through tax breaks, and it makes this report available on the web. It also has sound capacity to determine the impact of state taxes or changes in the tax code on taxpayers of all incomes.