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Oregon representative files legislation to repeal Measures 66 & 67
SALEM, Oregon: The Oregon legislative session may not have started just yet but representatives are already filing bills for consideration. Two particular bills, filed by Rep. Kim Thatcher, seek to repeal two 2010 voter approved tax measures.
Specifically, HB 2819 would repeal Measure 66 which raised personal income taxes. HB 2820 would repeal Measure 67 which raised corporate tax rates. The bills, according to Thatcher, were filed in order "to reduce Oregon’s tax burden."
Oregon Ballot Measures 66 and 67 was on the January 26, 2010 special election ballot in Oregon as potential veto votes on a $733 million tax hike enacted by the Oregon State Legislature in 2009. Both measures were approved. The tax bills increased taxes through increasing the state’s corporate minimum tax, raising taxes on the state’s high-income individuals and raising income taxes on businesses.
Most recently, in December 2010, the state's Legislative Revenue Office released projections for the 2011-13 budget and announced that the 2010 approved measure - Measure 66 - was expected to generate two-thirds or 66% the previously projected funds. The previous projection was made in May 2009. The measure was expected to raise $333 million for the 2008-10 budget year and $245 million for 2011-13. According to state officials, the main cause of the decline was the state's economic downturn.
Thatcher's proposed bills can be read here:
- Oregan Catalyst," "Rep. Kim Thatcher sponsors bills to repeal Measure 66 & 67 taxes," January 20, 2011
- Legal Newsline, "Oregon voters OK business tax increase," January 27, 2010
- Portland Business Journals, "Kulongoski signs tax bills," July 20, 2009
- The Oregonian, "Measure 66 tax increase brings in two-thirds of early estimates," December 15, 2010