Due to recently passed new taxes and increases of existing taxes, at both the state and local levels, a stunning number of Oregon businesses are now giving serious consideration to leaving Oregon according to findings from a survey of nearly 500 business CPAs and local chamber of commerce leaders.
“Employment is rebounding, but is still short of pre-pandemic levels, which makes it clear we are not out of the woods in terms of the pandemic’s impact on individual Oregonians,” said OBI President & CEO Sandra McDonough. “On the other hand, the state of Oregon is hitting record highs in terms of tax collections.”
The May revenue forecast, released today, shows that Oregon’s state tax collections are at a record high, and that is expected to continue for the next several years. With billions in federal aid on the way and these astonishingly strong tax collections flowing to state coffers, Oregon lawmakers have more than enough money to balance the existing budget and create a reasonable spending plan for the next fiscal biennium.
In the aftermath of the most devastating wildfire season in recent memory, four Oregon business associations stepped up to raise needed funds to provide community-level support for displaced families and devastated businesses.
Throughout the past year, Oregonians have weathered an unprecedented health and economic crisis that has devastated families and businesses in every corner of the state. With business restrictions and closures still impacting hundreds of thousands of Oregonians, we are relieved to see the positive state economic forecast.
Instead of prioritizing spending to meet available revenue – as many Oregonians have had to do – Gov. Kate Brown’s budget includes revenue-raising measures that are effectively tax increases aimed primarily at small Oregon businesses. Oregon Business & Industry disagrees with that approach.
Oregon Businesses Urge Governor to Consider Alternatives to Business Closures to Slow Spread of Covid-19
A large and diverse alliance of businesses and business associations, sent the attached letter to Governor Brown, urging her to pause on any future business closures or curtailed operations.
Due to recently-passed state tax changes, Oregon businesses will see a 41% increase in state taxes by 2022, according to a new report from the nonprofit State Tax Research Institute (STRI).
Congressman Greg Walden, State Rep. Caddy McKeown Honored with Statesman of the Year Award at OBI’s Flagship Event
Congressman Greg Walden from Oregon’s 2nd District and state Representative Caddy McKeown of Coos Bay were honored as our 2020 Statesman of the Year honorees.
OBI, OBC and PBA thank Gov. Kate Brown for her leadership in the effort to resolve the ongoing challenges in downtown Portland.