A tax on bikes in the state of Oregon, implemented in 2017, generated less tan half of the revenue as was expected.
"The Oregon Department of Transportation said Tuesday that it now expects the $15 flat tax on some new bike sales will bring in less than half of the expected $2.1 million this tax year — and even less than anticipated moving forward," reports Dirk VanderHart.
According to sources cited in the article, economists didn't have enough information accurately estimate the amount of revenue the new tax would raise. For background on the tax, see previous coverage by Irvin Dawid.
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