Senate sneaks business tax hike (CAT) by voters

By In the news
In: Uncategorized
Wednesday June 7, 2023


By Taxpayers Association of Oregon
OregonWatchdog.com

The 2019 Corporate Activities Tax (CAT) is such a failure and has been so destructive that the politicians KNOW they have to fix it — least more businesses leave Oregon.

But the politicians don’t want to spare a single penny of tax dollars (despite record billions coming into State coffers).

SB 140-3 raises the Corporate Activities Tax (CAT)  exemption level from $1 million to $2 million to help spare the pain on many  businesses.   Yet at the same time raises taxes on businesses by 16% by reducing expense deductions for certain businesses ($2M to $10M) and raising the tax rate 7% for other larger companies.   So in essence, it makes a bad tax worse for many while letting some escape the tax altogether.

• The CAT tax was responsible for destroying NW’s home grown Bi-Mart pharmacy chain.

• The CAT tax is why Oregon’s manufacturing has decreased double the national average.

• The CAT tax is among the few places in America that dares to tax business revenue (instead of profits).  This means the CAT tax hits businesses when they are not making a profit.  The politicians want their tax money no matter how much it hurts the little guy.   This taxing businesses not making a profit proved disastrous during COVID when businesses were told to shut-down and as they lost profits teh CAT tax still hit them!

If you hate the CAT tax and don’t wish to see it made worse then please contact the 5 Senators in the Senate Finance and Revenue Committee.

Tell them to vote no on SB 140-3 — no new tax increases.  The CAT tax should be abolished and not made worse for some.

1. Senator Mark Meek​​​  (Dem, Dist #20​)
503-986-1720​
[email protected]

2. Senator Jeff Golden  (Dem, Dist.#3)
503-986-1703
[email protected]

3. Senator Kayse Jama (Dem, Dist # 24)
503-986-1724
[email protected]

4. Senator Lynn Findley (Rep., Dist.# 30)
503-986-1730
[email protected]

5. Senator Brian Boquist (Ind., Dist # 12)
503-986-1712
[email protected]

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