Tax bills will destroy ten to twenty times the jobs Oregon stimulus package created

Cascade Policy Institute
Media Release

June 24, 2009

Two Job-Killer bills threaten to destroy ten to twenty times more jobs than Oregon’s so-called “stimulus package” has created

The state recently announced that its $175 million “stimulus package” has created or saved 3,236 jobs.1,2

What the state hasn’t yet told citizens is that Oregon risks losing ten to twenty times or more as many jobs if two “anti-stimulus” tax bills take effect.

HB 2649 would raise the top personal income tax rate, costing 36,000 jobs.

HB 3405 would boost the top corporate income tax rate and base the corporate minimum tax on gross Oregon sales, costing 43,000 jobs.

These projections are made by two respected private economists, Bill Conerly and Randall Pozdena, respectively. Their projections can be found here:

Taxing the “Wealthy” More Will Cost 36,000 Oregon Jobs
By Bill Conerly

Raising Oregon’s Corporate Income Tax Rate Will Cost 43,000 Oregon Jobs
By Randall Pozdena

1. 2,614 for state residents
2. Oregon Department of Administrative Services, SB 338 Progress Report on Oregon’s Stimulus Package, June 17, 2009

Steve Buckstein is founder and senior policy analyst at Cascade Policy Institute, Oregon’s free market public policy research center.