Oregon Legislature Enacts Slew of Tax Hikes, Including “Millionaires’ Tax”

The new tax laws passed by the Oregon legislature and awaiting the governor’s signature are “short-sighted political patchwork,” according to a new Tax Foundation study by Tax Foundation Researcher Jack Mountjoy and Director of State Projects Joseph Henchman. State lawmakers have added two new personal income tax rates: a 10.8% rate on singles with taxable income over $125,000 (couples over $250,000) and an 11% rate on incomes twice that high. Both are retroactive to January 1, 2009.

Read the new Tax Foundation Fiscal Fact. Read more about Oregon’s tax system.