Lawmakers could ask high-earning Oregonians to pay more in personal income taxes, if a plan to tax corporations’ sales rather than their profits fails.
Though legislators are discussing ways, in small, closed-door meetings, to address the state’s $1.6 billion budget shortfall for the upcoming biennium, a few rough-hewn bills are making their way to committees so lawmakers have something to work from as negotiations heat up.
One of these is House Bill 2876, which would add a new top bracket for Oregon’s personal income tax. Currently, for single filers, any personal income in Oregon over $125,000 is taxed at 9.9 percent. This bill would keep the 9.9 percent rate for income between $125,000 and $250,000.