Two Tips for Rebuilding Credit
Rebuilding credit can seem impossible, but with time (at least 6 months) and consistency, it’s very straight-forward. Here are the two tips for rebuilding your score: 1. Set up auto-pay so you never miss a minimum payment. On-time payment history is the largest part of a credit score (35%). 2. Focus on reducing your debt load. Pay down debt and keep in
Salem’s Single Property Tax Increment Financing District: A Boon for Affordable Housing Development
Exploring the impact of the tax incentive on Salem's local economy and the benefits for developers and residents
As the need for affordable housing continues to grow in Salem, Oregon, the city has introduced a tax incentive aimed at encouraging the development of new construction affordable housing projects. The Single Property Tax Increment Financing (TIF) District offers a financial incentive in the form of a property tax rebate for developers who undertake projects …
A Journey Through Salem’s Financial Landscape: Lessons from My Playbook
Navigating the tumultuous waves of Salem's business scene has given me a unique perspective on the art and science of small business finance. Let me share a few kernels of wisdom from my playbook, distilled from decades of entrepreneurship and mentoring.
The Line of Credit (LOC): A Double-Edged Sword
An LOC can be a business's staunchest ally or its mo…
Salem’s New Payroll Tax Hits Our Most Vulnerable Employees
While we all want to live in a safer Salem, the City Council’s plan of a city-wide payroll tax is not the way to get there. The theory is that increasing the budgets of various public services will translate to more effective firefighting, better police enforcement of laws and codes, improved ambulance response times, and a better approach to our expand
Oregon’s Community Hospitals Struggle with Financial Woes Amid Rising Labor Costs and Government Mandates
Oregon’s community hospitals are grappling with ongoing financial challenges, despite marginal improvements in certain aspects. According to data provided by Apprise Health Insights, an entity affiliated with the Oregon Association of Hospitals and Health Systems, the state’s 62 community hospitals suffered a collective loss of $414 million during the
Oregon Businesses Grapple with Rising Costs: A Deeper Look
Oregon's flourishing landscapes and bustling cities have always been a testament to its growth and potential. Yet, recent findings have given businesses and families cause for concern. As of this spring, the Missouri Economic Research and Information Center has ranked Oregon as the state with the 8th highest cost of living in the United States.
While stat…
Legislature Working to Increase Construction Regulation Authority
Construction bills in an Oregon legislative session are typically focused on prevailing wage,
apprenticeship, and public contracting. However, this year dollars in federal spending bills come
attached to their own set-in-stone standards.
Oregon legislative leaders are instead focusing their efforts on expanding state agency
enforcemen…
From the Desk of Kevin Mannix
Part of my work as a State Representative involves getting decisions on proposed laws.
There is more than one way to get legislation to the House Floor to vote on it. There is the familiar way of waiting for a bill to pass through a committee and then arrive on the House Floor. However, there are many great bills that, due to committee workloads, will nev…
Oregon’s Unemployment Rate was 4.8% in January
In January, Oregon's joblessness rate was 4.8%, maintaining the revised rates from October, November, and December 2022. The state last saw a higher unemployment rate in July 2021, at 5.1%. Concurrently, the national unemployment rate fell to 3.4% in January, hitting its lowest level in over 50 years. Recent yearly data revisions indicated that Oregon's u
Oregon Workers Are Owed $1.8 billion in Unpaid Overtime, According to Study.
The reason you may feel like you're earning less for longer hours compared to your parents is because it's likely the case. Average hourly wages, adjusted for inflation, have declined since the 1970s, while the average number of hours worked has increased. As a result, American workers are facing underpayment, overwork, and stress. One of the reasons for…