Sneak tax attack on Covid emergency business loans

By Taxpayers Association of Oregon

At the last minute, lawmakers are resurrecting Senate Bill 137-2 which would tax larger Paycheck Protection (PPP) loans awarded to struggling businesses when the government ordered businesses shutdown.   These are not typical loans, but rather just compensation for when small businesses were forced to not accept customers.

Now Oregon politicians are seeking to tax that emergency help with SB 137-2 which had a hearing in the Senate Revenue and Finance Committee yesterday.

One estimate shows that Oregon politicians stand to collect $600 million by taxing these loans.

Oregon State and Local Government has already received $5 billion in Covid aid, why are they looking to small business to with SB 137-2 to tax them more.  Why is not $5 billion not enough?

You can read SB 137-2 here.

You can call your lawmaker with this toll-free number 1-800-332-2313, ask to speak to your State Senator and tell them to vote No on SB 137.

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