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Repealing it would create 44,500 jobs over five years
(Bend , OR.)—Tim Knopp, Former Oregon House Majority Leader and three-term State Representative, who’s running for state senate announced his support and endorsement of a ballot measure that would end Oregon’s Death Tax.
Knopp said, “By ending the Oregon’s death tax we can release small business owners and farmers of the burden of the tax man taking their life’s work just to pay the tax bill when a key owner dies. An additional benefit of eliminating the death tax will be new jobs created in Oregon.”
In a recently released study by Eric Fruits, Ph.D and Randall J. Pozdena, Ph.D ending the death tax would increase Oregon job creation by 44,500 jobs over five years. It would also increase associated adjusted gross income and increase the taxpayer base.
The ballot measure is out for signature gathering at this time and once enough signatures are gathered it will be on the November 2012 ballot. Knopp said he will use his campaign for state senate to help gather signatures. This will be just one of many job creating proposals supported in Knopp’s jobs agenda.
According to Knopp the ballot measure was made necessary by the legislature’s failure to make any significant changes to Oregon’s Death Tax that would provide tax relief and job creation. The legislature passed HB 2541 which established escalating rates among other changes.
Tim Knopp said, “The legislature should have risen to the challenge of small business tax relief and job creation.” However, Senator Telfer was quoted on June 8, 2012 in The Oregonian saying, “This is probably the best we’re going to get,” before voting for HB 2541. Other Central Oregon Representatives Jason Conger, Mike McLane and Gene Whisnant along with Senator Ferrioli voted no on the bill.
“If the legislature won’t pass critical small business tax relief and job creation bills I’ll work with the public and any coalitions that will do the will of the people, Knopp stated. “We can and must do better than HB 2541 and I won’t stop until we succeed in bringing tax relief and new jobs to Central Oregon.”
Unemployment in Central Oregon has been running near 12 percent or more for the last 4 years and the legislature has stalled on critical jobs legislation. Knopp said he believes Oregon needs new leadership that won’t give up when the going gets tough.
Knopp is no stranger to ballot measures that provide tax relief. He led a coalition in the year 2000, Measure 86, on a legislatively referred Constitutional amendment to protect taxpayers Kicker tax refunds. Knopp said, “Oregonians supported it overwhelmingly and they will support the end of the Oregon Death Tax as well.”