Update: New Year Brings $118 Million Tax Cut for Oregon's Wealthiest

New Year Brings $118 Million Tax Cut for Oregon's Wealthiest

A tax cut for Oregon's wealthiest taxpayers that will cost $118 million this budget period will take effect in the new year, unless lawmakers vote to extend the temporary top marginal income tax rates put into effect by Measure 66.

"This is not the time to allow a tax cut to Oregon's most fortunate taxpayers," said Chuck Sheketoff, executive director of the Oregon Center for Public Policy. "That money should instead be used to shore up the budget to prevent further cuts to education, health and human services and public safety."

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