Taxes and Job Creation

Oregon voters, who no longer go to the polls, will have their votes counted tomorrow on two major tax increases. Measures 66 and 67 have garnered national attention as a key test of the public's willingness to accept higher taxes to close state budget shortfalls.

Right now, it's too close to call. The Portland Tribune reports:

The new poll by Davis, Hibbitts & Midghall Inc. showed supporters of Measures 66 and 67 retain narrow leads, but their edge has shrunk considerably since a poll by the same firm last week. Measure 66, an income tax increase for high-income individuals, is now leading 50 percent to 44 percent, Hibbitts said. Measure 67, a tax increase on some corporations and other businesses, is leading 48 percent to 45 percent.

John Hood, blogging at National Review Online, calls it correctly.

Intended to raise more than $700 million, the taxes will damage the state’s competitiveness and cost 70,000 Oregonians their jobs, according to a news release from the Cascade Policy Institute in Portland. You can read more about the underlying research here.

I imagine the vote will be watched closely in Olympia

Comments

[Joe Wallin]

Richard, do you twitter regarding developments in Olympia as well? And do you know who else is twittering regarding tax legislative updates in our state? What is your twitter feed? Thanks.