SB 1507
Updates the connection date to the federal Internal Revenue Code and other provisions of federal tax law.
Jurisdiction
Oregon
Session
2026 Regular Session
At the request of
(at the request of Senate Interim Committee on Finance and Revenue)
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Sign in to take actionPublic sentiment
Support
45%
Oppose
55%
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill updates Oregon tax law to align with federal regulations, primarily the Internal Revenue Code. It increases the earned income tax credit, creates a new tax credit for jobs created, and adjusts certain connection dates to federal tax laws. The bill also disconnects from some federal provisions related to personal auto loan interest and bonus depreciation, and reduces income taxes if the state implements a retail sales tax.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Senate Interim Committee on Finance and Revenue
Arguments in favor
Reasons to support this legislation.
Oregon families are struggling to make ends meet due to increasing costs for basic necessities like food and healthcare, while corporations receive tax breaks that disproportionately benefit the wealthy. that these tax breaks exacerbate the issue, threatening critical services such as schools, public safety, and social programs. Many advocate for closing tax loopholes and rejecting costly breaks for corporations, citing the need to return power to the people who pay for it and protect vulnerable populations like young people and low-income families. s that balancing Oregon's budget solely on working families' backs is unfair and that billionaires must pay their fair share to support critical services.
Source: Testimony Summaries
Arguments opposed
Reasons to oppose this legislation.
Opponents of Senate Bill 1507 express strong concerns about introducing a new sales tax, citing its potential harm to small businesses and the economy. Many that the bill would disproportionately impact working families and those on fixed incomes, increasing financial pressure at a time when many households are already strained by basic costs. Several testifiers also emphasize the need for fiscal responsibility and caution against imposing new taxes without addressing existing tax issues, such as income and property taxes. Some argue that the proposed legislation is a bait-and-switch tactic that promises tax breaks but may lead to increased sales taxes, while others express frustration with the current tax situation in Oregon and advocate for change. Overall, opponents of SB 1507 believe that the bill would be unfair, burdensome, and detrimental to the state's economy.
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