Kitzhaber proposes tax break

Gubernatorial candidate John Kitzhaber says cutting capital gains taxes could create jobs.

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Gubernatorial candidate John Kitzhaber says deferring taxes levied on capital gains could help create jobs.

The former governor’s idea echoes similar plans by Republican candidates Allen Alley and Chris Dudley, who also propose cutting capital gains taxes.

None of the proposals have been entirely fleshed out with proposed rates and estimates of the impact on the state treasury and the number of jobs the tax cuts would create. The candidates will be challenged to pencil out a tax cut when Oregon confronts a budget situation in 2011 that Gov. Ted Kulongoski describes as headed over a cliff.

Kitzhaber’s Democratic primary opponent, Bill Bradbury, has proposed a state-owned bank to funnel capital to Oregon businesses and on Monday derided cutting capital gains.

Read the full story at The Register-Guard.

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