Oregon lawmakers are considering a state sales tax, coupled with income tax reductions and other changes.
Oregon lawmakers are considering a state sales tax, coupled with income tax reductions and other changes.
On Monday, lawmakers held the first public hearing on twin tax proposals. One would ask voters to enshrine in Oregon’s constitution a 5 percent sales tax on most goods and services, excluding food and medicine. The other would trim income tax rates across the board, make a targeted cut to capital gains taxes and increase some tax credits available to low- and middle-income Oregonians and businesses.
In practice, restructuring the system in this way might leave many Oregonians facing little or no increase in the taxes they pay, supporters say, while providing a two-year net increase in state revenue of about $750 million, mostly from sales of goods and services to out-of-state residents.
Read more at The Register-Guard.
{biztweet}oregon sales tax{/biztweet}
