PORTLAND, Ore. (AP) - Gov. Kate Brown says she will sign a bill that would disconnect Oregon’s tax code from a federal tax provision.
The Statesman Journal reports that’s despite calls from Republicans to veto the legislation.
Brown announced her plans at a Friday news conference in Portland. She says she’ll convene a one-day special legislative session to address inequities in the tax code.
Senate Bill 1528 disconnects Oregon from a new federal provision that grants pass-through entities - including S corporations, LLCs and various business partnerships - an additional 20 percent deduction on state income taxes.
Republicans say a disconnect amounts to a 20 percent increase in taxes for those businesses. Democrats say the federal law gives some entities an additional, unfair tax break on top of what the state already gives them.
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Information from: Statesman Journal, http://www.statesmanjournal.com
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