The Democratic Party of Oregon issued the following statement in response to a Republican gut and stuff amendment to SB 1507 that would remove a new $25 million Jobs Tax Credit designed to cut taxes for small businesses that create jobs here in Oregon:
“Oregon Democrats built a bill that cuts taxes for more than 200,000 low-to-moderate income Oregon families, protects critical funding for public services, education, and health care, and creates a tax credit for small businesses that are creating new jobs. Apparently Republicans don’t think Oregon small businesses deserve a tax cut,” said Candy Emmons, DPO Executive Director.
Trump’s so-called “One Big Beautiful Bill” cut taxes for the wealthy and big corporations on the backs of the working class by making drastic cuts to programs like Medicaid, which supports over 1.4 million Oregonians. Because Oregon is one of a handful of states that automatically mirrors federal tax code, HR1 blew a $900M hole in Oregon’s budget. SB 1507 closes the most egregious tax loopholes that favor the wealthy and large corporations in order to protect funding for schools and healthcare. The Democratic bill includes the largest expansion in the Earned Income Tax Credit in state history – reducing taxes for hundreds of thousands of low-income and working class Oregonians – and a Jobs Tax Credit to cut taxes for businesses that create good paying Oregon jobs. Emmons said these changes are desperately needed as Oregon families face rising costs.
“Democrats crafted a common-sense solution that removes tax giveaways for big corporations while improving affordability and creating real opportunities for working families and small businesses. But Republicans have decided that the small business jobs credit has to go while they push to reinstate giveaways for massive corporations. It’s appalling. Oregonians should ask themselves: whose side are these GOP politicians really on?”
