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House considers business taxes

April 22, 2013

By Oregon Prosperity Project

New $275 Million Tax Increase Unveiled this Week
HB 2456 adds new taxes on top of Measure 66 & 67 taxes

A new, serious tax increase proposal was introduced. The Oregon House of Representatives will vote on it soon. The bill is HB 2456.

The proposed tax hikes are on the same Oregon businesses and taxpayers whose taxes were permanently increased by Measure 66 & 67. This will be the second time in four years that the same Oregon businesses and taxpayers will be targeted for additional permanent taxes.

Measure 66 permanently increased taxes on businesses and taxpayers with $125,000 incomes for single filers or $250,000 for joint filers. Measure 66 raised their tax rate from 9% to 9.9%. Measure 66 has already increased taxes on these individuals and businesses by $375 million per biennium.

Here’s what HB 2456 will do.

See news coverage of the new tax plan.

Official summary of HB 2456.

Are new taxes needed?

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Discuss this article

Bob Clark April 22, 2013

New taxes and even talk of them discourage economic investment and individual productive effort. Better to tie state and local governments to existing tax structures and rates which would incentivize government to get out of the way of economic growth. The current political regime dominating the state talks a lot about helping folks at the bottom of the economic ladder, but after ten years or more of their policies, the poor are actually much worse off because of their policies.

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