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Tax credit package passes Oregon House
Tuesday, June 26, 2007 | No comments posted.
A package of tax breaks that will be largely funded by a tax increase on the well-to-do got final approval in the Oregon House Monday night. The bill covers $22.4 million of new and expanded tax credits that will benefit a host of groups, such as mobile home owners, Hollywood filmmakers and egg processors.
And the bill contains a provision that means Oregon couples who make more than $234,000 or individuals earning more than $159,000 will pay slightly more in state taxes, starting in April 2008.
It also includes $6 million a year more for businesses that invest in renewable energy, such as installing solar panels. And there's a $2 million per year credit for truck owners who agree to upgrade older diesel engines.
The bill passed on a 54-5 vote.
And the bill contains a provision that means Oregon couples who make more than $234,000 or individuals earning more than $159,000 will pay slightly more in state taxes, starting in April 2008.
It also includes $6 million a year more for businesses that invest in renewable energy, such as installing solar panels. And there's a $2 million per year credit for truck owners who agree to upgrade older diesel engines.
The bill passed on a 54-5 vote.
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