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Oregon passes bill to shield state taxes from federal changes, saving $311M, drawing GOP opposition and threat of referendum.
Oregon’s House passed SB 1507, a bill to partially disconnect the state’s tax code from federal changes, aiming to preserve $311.6 million in revenue over six years.
The legislation targets specific federal tax breaks, including those on auto loan interest, small business stock, and bonus depreciation, while expanding the state’s Earned Income Tax Credit and creating a job-creation credit for high-wage employers.
Governor Tina Kotek is expected to sign it, preventing deeper spending cuts.
Republicans oppose the measure, calling it harmful to businesses and a threat to economic competitiveness, and plan to push for a voter referendum.
The bill passed 34-21 along party lines and follows over 1,000 public testimonies, with most supporting the change.
Oregon aprueba un proyecto de ley para proteger los impuestos estatales de los cambios federales, ahorrando $ 311 millones, atrayendo la oposición republicana y la amenaza de referéndum.