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Jan-26-2010 22:20TweetFollow @OregonNews
Measures 66 & 67 See Significant VictoriesTim King Salem-News.com
Oregon's wealthier citizens will soon bear a bigger burden of taxation.
(SALEM, Ore.) - Oregon voters have spoken up in defense of state programs and schools, and they will soon see a larger portion of the state's revenue coming from both individuals who earn higher than average incomes, and Oregon corporations.
Measures 66 & 67 will increase taxes on residents in higher income brackets, and also do away with the $10 corporate minimum tax. Many arguments have been waged on both sides of the issues, but tentative vote tallies show the victory coming in 55% to an approximate 45% no vote overall.
Measure 66 raises taxes on household incomes at and above $250,000, and $125,000 for individual filers. It reduces income taxes on unemployment benefits in 2009, and provides funds currently budgeted for education, health care, public safety, and other services.
In the official language, Measure 66 "raises tax on incomes above $250,000 for households, $125,000 for individual filers. Tax rate increases 1.8 percentage points on amount of taxable income between $250,000 and $500,000, 2 percentage points on amount above $500,000 for households. For individual filers, the rate increases begin at $125,000 and $250,000 respectively. Eliminates income taxes on the first $2,400 of unemployment benefits received in 2009. Raises estimated $472 million to provide funds currently budgeted for education, health care, public safety, other services."
Measure 67 will raise the $10 corporate minimum tax, business minimum tax, corporate profits tax, while providing the funds currently budgeted for education, health care, public safety, other services.
According to the Oregon Secretary of State, Mesure 67 "raises $10 corporate minimum tax, establishes $150 minimum tax for most businesses or minimum tax of approximately 0.1% of total Oregon revenues for some corporations with over $500,000 in Oregon revenues. Raises tax rate some corporations pay on profits by 1.3 percentage points. Increases certain business filing fees. Raises estimated $255 million to provide funds currently budgeted for education, health care, public safety, other services."
As it turns out, there was a 52.14% turnout of Oregon's 2,064,618 registered voters, with 1,076,409 casting ballots.
The yes vote tally on Measure 66 was 580,506, which represented 54.17%. There were 491,033 no votes which accounted for 45.83%.
The yes vote talley on Measure 67 was 574,346, which represented 53.71%. There were 494,960 no votes which accounted for 46.29%.
Tim King is a former U.S. Marine with twenty years of experience on the west coast as a television news producer, photojournalist, reporter and assignment editor. In addition to his role as a war correspondent, this Los Angeles native serves as Salem-News.com's Executive News Editor. Tim spent the winter of 2006/07 covering the war in Afghanistan, and he was in Iraq over the summer of 2008, reporting from the war while embedded with both the U.S. Army and the Marines. Tim holds numerous awards for reporting, photography, writing and editing, including the Oregon AP Award for Spot News Photographer of the Year (2004), first place Electronic Media Award in Spot News, Las Vegas, (1998), Oregon AP Cooperation Award (1991); and several others including the 2005 Red Cross Good Neighborhood Award for reporting. Serving the community in very real terms, Salem-News.com is the nation's only truly independent high traffic news Website. You can send Tim an email at this address: email@example.com
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