Statement on HB 3367 by OCPP Executive Director Chuck Sheketoff
The omnibus tax credits bill sent to the floor by the House Committee on Revenue rightly puts working families first by renewing and strengthening the Oregon Earned Income Tax Credit (EITC). This will help the quarter of a million working households struggling to make end meet in Oregon who rely on the credit.
While it’s a smart decision to help over 700,000 Oregonians in those working households who have earned the EITC, several provisions of HB 3367 are not in the best interests of Oregonians: expanding an inefficient subsidy for our film industry, giving an over-the-top and ineffective tax cut to wealthy medical providers, expanding subsidies for research and development that would happen anyway, and making expensive and risky state investments in manufacturing.
Our whole state is better off when we prioritize helping low-income working families with children, not when we prioritize subsidies to deep-pocketed interests.
We hope the Senate will also prioritize support for low-income working families with children as they consider their tax credits bill.