Recent Stories with tag tax increase

Visiting family in Portland over the weekend, I got to witness firsthand the difference between how Oregon and Washington are handling their budget crises in the midst of a recession. On Tuesday, Jan. 26, Oregon voters look set to approve ballot Measures 66 and 67, reasonable tax increases on wealthy individuals and businesses, to help fund their budget shortfall and support crucial public services.

Measure 66 raises the state income tax (Oregon has an income tax but no sales tax) 1.8 percent on individuals making over $125,000, and households making over $250,000. The measure also lowers taxes on the unemployed by exempting the first $2,400 of unemployment benefits. Measure 67 raises the minimum business tax for the first time since 1931, from $10 to $150, and adds a 1.3 percent tax on corporate profits over $250,000. The measures are public referendums on bills passed by the legislature last year, and pollsters show both passing....

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