House Republicans call for tax reforms to promote investment & provide tax relief

November 18, 2008

OREGON HOUSE REPUBLICANS

FOR IMMEDIATE RELEASE: November 19, 2008
CONTACT: Nick Smith, 503-986-1351

HOUSE REPUBLICANS CALL FOR SUSTAINABLE, PRIORITIZED SPENDING;
ECONOMIC STIMULUS, RELIEF FOR WORKING FAMILIES

SALEM'o In light of a $762 million revenue shortfall for the 2009-11 biennium, House
Republicans today called for sustainable and prioritized spending in the next budget. The caucus
also called for tax reforms to promote capital investment and to provide tax relief for lowerincome
Oregonians and working families.

`iSpending in 2007 was unsustainable, and now the Legislature is facing difficult decisions in
2009,^i said House Republican Leader Bruce Hanna (R-Roseburg). `iIt is time to bring
government spending back under control, and to pass measures to keep dollars flowing through
our economy and to keep capital within our state.^i

Rep. Vicki Berger (R-Salem), Vice-Chair of the House Revenue Committee, said the Legislature
can'it continue to increase spending and taxpayer-obligated debt. She said Legislature must pass
tax reforms to help working families and lower-income Oregonians, and prioritize spending to
protect schools, public safety and health care for vulnerable Oregonians.

`iThe state can'it afford to dig a larger fiscal hole,^i Rep. Berger said. `iIt is time to focus on
sustaining the programs and services most important to Oregonians, and passing pro-growth and
pro-family tax reforms that would put more dollars back into our economy.^i

Earlier this year, House Republicans announced legislation to double the state'is child tax credit
and make Oregon'is income tax fairer for lower-income workers. The caucus will also introduce
legislation to reform Oregon'is capital gains tax rates, among the highest in the nation, to promote
capital investments in businesses and workers.

`iRather than finding new ways to extract more money from Oregonians, we will work to put
more money back into their pockets and back into the economy,^i Rep. Hanna said. `iThe
Legislature must create a better environment for businesses that helps them succeed and create
jobs.^i
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