Oregon faces an unprecedented financial crisis. More Oregonians than ever before are struggling in this difficult economy and demand for emergency cash assistance, food stamps, and other economic supports has already hit record levels. Drastic cuts in health and human services at this time of increased need will only cost us more in the long run. Without significant new revenue, vital state services will be slashed even further.
Further cuts to human services will hurt our already struggling economy. 83% of human service dollars go directly and immediately into private sector jobs supporting seniors, children and other vulnerable Oregonians. They pay for health care services, child care and independent living assistance, and have a multiplier effect in the community – in the local grocery store, office supplier or pharmacist. Cuts to basic human services will hurt Oregonians and leave behind millions in federal matching funds at a time when our economy needs them most.
Oregonians must pull together to get through this crisis, and the state’s wealthiest corporations and individuals must pay their fair share. Oregon families face the double whammy of being victimized by the economy and facing a lack of services when they need them most, but corporations and the wealthiest individuals aren’t being asked to pay their fair share. House Bills 2639 and 3405 raise revenue from the right source – those who are flourishing even in the bad economy. With so many vulnerable Oregonians suffering and so many important services they depend on being slashed, it’s only fair that wealthy individuals and big, successful corporations finally pay their fair share.
Even though the top income tax rate is 9%, the highest earning 1% of taxpayers pay only 6.7% of their income in state and local taxes, while the poorest 20% pay 9.2%. Many large, profitable corporations only pay the $10 minimum tax. Corporations are paying less than half of the income taxes they paid 30 years ago, as a share of the economy. This means that individuals and small businesses now pay more. The first step in restoring a fairer balance between corporations and individuals is to reform the corporate income tax system to bring in appropriate revenues. (Source: OCPP)
HSCO urges lawmakers to support House Bills 2469 and 3405 to protect crucial state services for vulnerable Oregonians.
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