Taxpayer Association Update,
There are some good bills submitted during this session at the Oregon State Legislature.
By Wayne Brady,
HB 3364 would rapidly send criminal illegal aliens home thereby saving substantial money on incarceration. The bill would apply to non-violent criminals and would require the criminal alien’s approval. If the criminal alien returns to Oregon, he would be imprisoned for the original term plus 20 years. Because the criminal alien has to volunteer to leave, that should get by objections by ACLU and other similar organizations. If the criminal alien participates in this program, we should not expect to see him in Oregon again. Similar legislation has been passed in New York and Arizona and they have experienced substantial savings.
SB 586 would raise the tax brackets and then index them to account for the cost of living. For example, the current tax table calls for a 5% tax on taxable amounts of $2,000 or less. The new tax table would apply the 5% to $5,800 or less. The current tax table calls for 9% tax on taxable amounts greater than $5,000. The new one doesn’t reach 9% until$14,600. This bill gives some tax relief now and avoids bracket creep in the future.
SB 473 would raise the threshold for inheritance tax from $1,000,000 to $2,000,000 after January 1 2009 and $3,500,000 after January 1, 2010.
SB 474 would eliminate the capital gains tax.
These are all good bills. I think HB3364 and SB 586 have the greatest chance of passage.