Tax Day is becoming more and more ominous for hard working people. Despite inflation being at record highs and a projected tax revenue surplus of $1.5 billion, Democrats in Salem continue to push for hundreds of millions in new taxes. Unbridled taxation to prop up bloated government bureaucracy does nothing but hurt Oregonians. Enough is enough.
Lower taxes have been the trademark of my campaign. My plan proposes meaningful tax relief and more responsible government spending.
My plan will address the following:
1. Stabilize Income Tax
Oregon has the 4th highest income tax in the county and is expected to receive a $1.5 billion tax revenue surplus for the 2021-2023 fiscal period, $763 million of which will be from personal income taxes. Now, Democrats have their eye on Oregon’s Kicker refund. This fervent desire to take Oregonian’s money is unacceptable.
As Governor, I will explore all options to constrain government spending and reduce our budget. I will reorient Oregon’s budget to expel frivolous spending and prioritize long term goals like infrastructure, education, and public safety. I will also protect Oregon’s Kicker refund, which acts as a check-and-balance to government spending. I will ensure 100% of the surplus is distributed back to Oregonians until we can find a better replacement for the Oregon Kicker.
2. Pause Gas Tax
Oregonians are hurting at the gas pump. Gas prices are reaching record highs and show no sign of going down. Businesses and families need relief now.
I propose a pause on the fuel tax in Oregon. Currently, an extra $0.38 in state taxes is tacked onto every gallon sold. Pausing fuel tax will save families and businesses $7.60 every time they fill up a 20-gallon tank. High costs of fuel impact everything we buy so pausing the fuel tax will provide some much needed relief for our state.
Oregon’s government is currently flushed with cash from the recent tax surplus. It is time for political leadership to make things easier on working families for a change rather than bending to environmental virtue signaling.
3. Repeal Corporate Activities Tax (CAT)
CAT is a backdoor sales tax. It was sold to business advocates as a gross receipts tax and was manipulatively pushed through our legislative process. I will push the state legislature to repeal the CAT tax as Governor.
We live in a democracy and the fact that CAT was pushed through our legislative process is a travesty. Oregon needs honest leadership that can manage our budget responsibly rather than scheming ways to increase revenue.
Experts have determined the CAT is one of the most economically damaging taxes. It stifles businesses, costs jobs, and is offloaded onto the consumer as a sales tax. Its effects on Oregon’s supply chain will only amplify the current inflation challenges. Oregon should join the country’s other 48 states that do not employ this taxing system.
4. Retirement Friendly Tax Policy
Oregon is noted as being one of the nations most tax-unfriendly states for retirees.
Eliminating taxes on retirement income
While the state does not tax Social Security benefits, it does tax other retirement income, like withdrawals from retirement accounts. Public and private pension income are also taxed, and our seniors deserve better. We must let Oregonians retire in peace, and allowing seniors to withdraw from their hard earned 401ks, IRAs and pensions without penalty is a crucial first step.
Estate tax: Oregon has the 6th highest “death tax” in the County.
Oregon is one of the most exploitative states when it comes to estate tax, having the 6th highest “death tax” in the country. Oregon has resisted the trend to raise its estate tax exemption from $1 million, and additionally, it even imposes a relatively high 10% tax rate on even the smallest of qualifying estates.