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Home / Oregon House Dems Propose Higher TaxesOregon House Dems Propose Higher Taxes
Last Updated on Friday, 15 May 2009 02:59 Written by rslcpol Friday, 15 May 2009 11:34
Work hard, pay more. Makes sense, right? From OregonLive.com:
The state can ease its budget crisis by increasing taxes on corporations and adding a new, higher tax bracket for Oregon households that make more than $250,000 a year, a group of House Democratic leaders said Thursday.
The tax increases, which could add half a billion dollars or more to the state’s general fund, emerged as the centerpiece of the House Democrats’ plan to deal with an expected two-year budget shortfall of up to $4 billion.
The budget-balancing plan also calls for cutting between $1.5 billion and $2 billion in education and state services. Lawmakers would use reserves and federal stimulus money to patch the remaining holes.