Tax Cuts for Oregon Workers, Not the Rich

Oregon legislators are pushing a bill that would:

• Lower taxes for more than 200,000 families
• Provide a $25 million credit to local businesses that create good jobs

The proposal seeks to close the state’s budget gap created by federal tax cuts that largely benefited billionaires.

The Impact of Federal Cuts

• Bottom 20 % of households: Could lose about $165 each year by 2027
• Richest 0.1 %: Would gain roughly $300,000
• Oregon’s tax rules mirror federal ones by default, so the cuts were adopted without local input, causing a sudden $900 million drop in expected revenue.

Key Provisions of the Bill

1. Expanded Earned Income Tax Credit
   
   • Largest level ever, helping roughly 535,000 residents, many of whom are children.

2. Jobs Tax Credit

   • Rewards Oregon companies for hiring and growing locally while preserving funding for:
   • Schools
   • Food assistance
   • Medicaid
   • Public safety

3. Elimination of Three Federal Provisions

   • Primarily favor the ultra‑wealthy (e.g., bonus depreciation)
   • Aimed at closing loopholes used by large corporations like Meta to avoid billions in taxes.

Public Support

Last week, hundreds of citizens—including nurses and small‑business owners—testified in support of protecting essential services that keep families safe and schools funded.

The Bill’s Rationale

• Balances affordability for workers
• Encourages business growth
• Shields programs many Oregonians rely on

If passed, it would represent a significant shift toward policies that prioritize everyday citizens over corporate giants.