- June 18, 2021
- Posted by: Stratford Team
- Category: Business
The Oregon Senate on Thursday morning narrowly passed a plan to scale back a controversial business tax break that critics say has not led to the job creation it was supposed to generate.
Senate Bill 139 would eliminate the break for businesses with more than $5 million in annual profits and tighten employment requirements, while slightly reducing tax rates for businesses with income up to $1 million a year. The bill narrowly passed on a 16-13 vote with Sen. James Manning Jr., D-Eugene, excused. Most Democrats and Independent Sen. Brian Boquist of Dallas voted for the bill, while all Republicans and two Democrats — Sen. Betsy Johnson of Scappoose and Sen. Deb Patterson of Salem — voted “no.”
Boquist and Sen. Ginny Burdick, D-Portland, spearheaded the bill and both said they have received many emails from people who incorrectly believe the proposal would raise taxes on small businesses. “Every single email I got, over 100, I replied personally…
