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.