Oregonians Vote No On Taxes, What Does That Mean For The Future?

, Posted: Wed, November 7 2012 at 5:13 PM, Updated: Thu, November 8 2012 at 11:25 AM

The corporate "kicker" tax set to pass would benefit public schools k-12. An inheritance tax on large estates looking to be phased out and Measure 79 that prohibits real estate transfer taxes.

The majority of voters looking to put excess tax revenue from the  corporate kicker tax refund to fund public schools K-12. The passage of the measure would mean a lot for public education.

"Like everyone public entities have had to make changes because of the economy and we're trying to find out, how do we bounce back from that." -Dr. Phil Long, Medford Schools superintendent

Democratic senator Alan Bates says - schools shouldn't get used to it.

 "A kicker doesn't always kick, sometimes it does.
i've been in a position where we're sending a billion dollars back and cutting k-12 at the same time. it's crazy." Alan Bates, Oregon Senator.

A tax that doesn't look like it's going to happen--79- the real estate transfer tax. The measure stops the government from imposing new real estate transfer taxes. Current law does that but can be lifted with a simple vote by the legislature. Basically a 'yes' vote on 79 eliminates that power. Lastly measure 84 which would phase out existing inheritance taxes on large estates looks to fail. Ultimately, Bates says the results of last night's election and these tax measures will work out for Oregon's economy.

Leave a Comment:

Note: Comments with profanity are automatically filtered and hidden. Verbal attacks towards others via our comments section will not be tolerated.