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News Release

 

April 8, 2013

Jared Mason-Gere (503) 986-1204

Jared.masongere@state.or.us

           

House starts conversation on reducing tax breaks

Second step in Co-Chairs’ School funding plan Begins Tomorrow

SALEM-  Discussions of the next step toward stability for public schools will begin tomorrow as the House of Representatives begins a conversation on ending and reducing select tax breaks for corporations and wealthy households.  The House Revenue Committee will meet Tuesday morning to discuss proposals that would raise the $275 million in revenue needed to meet the Ways and Means Co-Chairs’ budget of $6.75 billion for public education. 

“This is a starting point in a conversation about how we fund schools by cutting generous tax breaks that benefit corporations and the wealthy,” said Rep. Phil Barnhart (D-Eugene), Chair of the House Revenue Committee.

The committee will discuss possible amendments to HB 2456 that would yield the money needed for school districts to stop massive cuts to teachers and school days.  Among the options being considered are cracking down on off-shore tax shelters, means testing and reducing deductions and exemptions for wealthy individuals, and removing the cap on the minimum tax for large corporations.  

“This year’s budget is all about two things: reinvesting in our schools, and fairness. We need to make sure everyone pays their fair share for schools and other services that are so vital to a strong economy,” said Rep. Peter Buckley (D-Ashland) Co-Chair of the Joint Ways and Means Committee.  “This is a necessary component of ensuring our state budget reflects fairness and a shared commitment to our schools.”

“After the long public dialogue leading to the introduction of our PERS savings bill, now it’s time to begin the conversation about reining in tax breaks,” said House Speaker Tina Kotek (D-Portland).  “I look forward to a good discussion.  We need to reinvest in Oregon’s priorities.”

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