$15 Means More to Low-income Families than $145 Means to Phil Knight

InsideCapitolDome

$15 Means More to Low-income Families than $145 Means to Phil Knight

InsideCapitolDome

$15 Means More to Low-income Families than $145 Means to Phil Knight

Why the personal exemption credit should be phased out, not reduced “across-the-board”

The personal exemption credit allows Oregonians to reduce their state income taxes by a certain amount for each member of their household. In 2002, the credit was worth $145 for each household member, plus an additional $145 for each member who is severely disabled. The lowest income families don’t get to enjoy the credit fully; once it reduces their tax liability to zero they forego the remaining portion of the $145 per household member. Each year, the size of the personal exemption credit is increased to keep pace with inflation.

Read $15 Means More to Low-income Families than $145 Means to Phil Knight (PDF).

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Written by staff at the Oregon Center for Public Policy.

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