Lawmaker Attempts To Head Off Corporate Tax Initiative
An Oregon state lawmaker is making what he calls a long shot attempt at heading off an initiative that would raise corporate taxes.
Democratic Senator Mark Hass unveiled his proposal Monday in Salem on the first day of the 2016 legislative session. He said the idea is to start the ball rolling toward an eventual compromise sometime later this year.
"I know the chances of getting there in this session are very slim. I know that better than anybody in this building,” Hass said. “But it's important to me that Oregonians know there's been some thoughtful diligence in an effort to balance revenues, taxes and Oregon's economy."
Hass said his plan would generate about $500 million in new revenue each year for the state. That's about one-fifth as much as the tax proposal being circulated by the union-backed group Our Oregon.
That group has until July 8 to gather signatures to get their measure on the November ballot.