The guys in Salem are working on a nasty new bill that would bring back Oregon's 65% cigar tax AND limit how much federal tax you can deduct from your Oregon taxes - and caps it for SIX YEARS!
Go here to find out who your rep is and contact them today!
Please share with friends & contact your representatives!
Not surprisingly, every news outlet puts their own slant on things. It was actually a challenge to find one that clearly listed everything happening with the bill. So we pulled information from several sources:
Halfwheel's take includes this bit of education:
"Currently, a cigar that has a SRP of $5.50 likely retails for around $6.50 in Oregon, that would increase to over $9 if the cap was to be removed. And it only would be worse for more expensive cigars. A cigar that retails for $10.50 currently would likely increase in price to $15.68, a cigar that retails for around $12 before taxes could now be as much as $20 due to the removal of the cap."
Bend Bulletin includes this important bit of info:
"The bill also targets a provision that allows Oregon taxpayers to subtract their federal tax liability from their income when calculating state taxes, up to $6,350. The cap typically grows with inflation, but the bill would cap it for six years."
This editorial comes from the Oregonian Editorial Board:
"Perhaps one of the farthest-reaching aspects of the bill is the establishment of limits on the amount of federal income tax payments Oregonians can deduct from their state taxes. The change will, in effect, increase many middle-class Oregonians' tax bills."
And they don't like the cigar tax increase either (can't say we ever expected the Oregonian to say that!)
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