Senate panel to weigh revenue, business taxation
SALEM, Ore. (AP) -- An Oregon Senate committee is scheduled to discuss Democratic proposals to increase state revenue and a Republican request to cut taxes for some business owners.
The hearing set for Thursday could help pave the way for a budget compromise that would end a weeks-long stalemate.
Democrats have proposed limiting tax deductions for high-income taxpayers, cutting back on a tax deduction for seniors' medical expenses and raising cigarette taxes.
Senate Republicans want to lower tax rates for people who own certain businesses where taxes are paid in the owner's name rather than the corporation's.
Increased revenue and business tax breaks are two of three components debated during weeks of closed-door budget talks.
The Senate Finance and Revenue Committee is not scheduled to discuss the third component - cuts to public-employee pensions.