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Capital gains taxes under fire

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High Five
Friday, March 11, 2011

Oregon lawmakers are again considering several proposals aimed at cutting taxes on investment income.

The proposals range from Gov. John Kitzhaber's relatively modest $25 million plan to cut capital gains taxes on Oregon investments to calls by some business groups to simply eliminate capital gains taxes altogether.  That would cost the state an estimated $800 million in revenue in the 2011-13 budget cycle.

Rep. Vicki Berger, R-Salem, who chaired a House Revenue Committee hearing on the subject, said the state can't afford to be known for having one of the highest  capital gains rates in the nation.

"Oregon needs to look like a place that you want your business to invest in or we're never going to get out of this hole," said Berger.

Read more at OregonLive.com.

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