Tax Cuts for Oregon Workers, Not the Rich

Oregon lawmakers are pushing a bill that would lower taxes for more than 200, 000 families and give a $25 million credit to local businesses that create good jobs. The proposal aims to fix the state’s budget gap created by federal tax cuts that largely benefited billionaires. If the current federal plan stays in place, the bottom 20 percent of households could lose about $165 each year by 2027, while the richest 0. 1 percent would gain roughly $300, 000. Because Oregon’s tax rules follow the federal ones by default, those cuts were adopted without local input and caused a sudden $900 million drop in expected revenue. The new state bill expands the Earned Income Tax Credit to its biggest level ever, helping roughly 535 000 residents, many of whom are children.It also introduces a jobs tax credit that rewards Oregon companies for hiring and growing locally, while preserving funding for schools, food assistance, Medicaid and public safety. The savings come from eliminating three federal tax provisions that mainly favor the ultra‑wealthy, such as bonus depreciation. Large corporations like Meta have used these loopholes to avoid billions in taxes, a benefit that most states are trying to close. Last week, hundreds of citizens—including nurses and small‑business owners—testified in support of protecting essential services that keep families safe and schools funded. The bill’s supporters argue it balances affordability for workers, encourages business growth, and shields programs that many Oregonians rely on. If passed, it would represent a significant shift toward policies that prioritize everyday citizens over corporate giants.