Legislative Update
The State of Oregon just received $2.6 billion from Congress in the recent American Rescue Plan, yet the Oregon Legislature is still attempting to raise taxes on small businesses and working Oregonians. Trouble is brewing with businesses just starting their pandemic recovery.
With the onset of COVID-19, many local businesses were shuttered in the interest of protecting public health and slowing the spread of the virus. These closures resulted in many businesses suffering extensive losses. Workers lost their jobs. Families lost their income and fell into a failed unemployment system. There was widespread economic loss and uncertainty.
The Oregon State Chamber of Commerce has learned that Oregon will be receiving $2.6 billion from the American Rescue Plan which was just passed by Congress – this is more than enough money to pay the entirety of our state’s bills and financial commitments.
Despite of this, the Oregon Legislature is still trying to raise taxes on those who have shouldered the greatest weight of the COVID-19 pandemic. We must demand a better strategic approach by our elected leaders – no business, coming out of a global pandemic, ought be faced with additional tax burden at this time. Further, with the immense financial assistance our state government is receiving in federal aid, the optics of raising taxes following a pandemic is horribly misguided.
Now is NOT the Time for New Taxes
In a recent letter, Congressman Peter DeFazio (OR – 4th District) calls on Governor Brown, President Courtney and Speaker Kotek to ensure that the EIPs working families received as CARES Act payments do not increase their tax burden, which would disproportionately impact working families.
He states: “It is unconscionable to ask those working families who have struggled the most during this crisis to bear the weight of the state’s budget shortfall. These Oregonians should not have their EIPs diluted.” You can read the full text of his letter here.
Businesses and individuals have faced unprecedented shutdowns and economic uncertainty over this past year. Small businesses and working families have suffered enough. Now is not the time to raise taxes.
Contact your elected officials in Oregon and let them know that now is not the time to raise taxes on small business.
Below are Bills that the Salem Chamber is closing following as they have a significant impact on our business community.
- SB 137 – Disconnect from Federal CARES Act tax benefits for Oregon businesses
- SB 139 – Repeal of the Oregon Small Business Tax Cut
- HB 2253 – Taxes the dollars businesses brought in from the Paycheck Protection Program
- HB 2839 – Disconnect from Federal CARES Act tax benefits for Oregon businesses
- SB 842 – Eliminates state taxes on federal stimulus checks