Oregon dependent on personal income tax

Oregon dependent on personal income tax

Oregon is more dependent on personal income taxes than any other state, according to U.S. Census Bureau data.

In fact, it relies more heavily on income taxes than any other state relies on any one tax except Alaska, whose reliance on taxes paid on oil extraction tops Oregon’s reliance on the income tax.

Experts say Oregon’s tax structure can hurt the economy and cause wild swings in revenue, but some policy experts say it has given Oregon one of the most progressive tax systems in the country and provides the state with an excellent revenue source in good years.

Read more at The Statesman Journal.

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