On Wednesday, the OBA Board of Directors unanimously voted to support the 2011 Stability Package. The package – which creates an emergency reserve fund (SJR 26/SB 754), sets aside mandatory savings (SB 968), and implements a capital gains reduction plan (SB 883) – will provide revenue stability and foster economic growth in the state.
“I applaud OBA’s sustained commitment to stabilizing Oregon’s revenue and the creation of a meaningful stability fund,” said Governor Kitzhaber. “We must continue to take smart steps that move Oregon’s recovery forward.”
OBA commends Senator Morse and Senator Burdick, who have been working tirelessly to produce a package of legislation that will reduce risks and uncertainty associated with Oregon’s volatile tax system and give businesses greater predictability when it comes to capital gains taxes.
“Creating a robust rainy day fund has always been core to OBA’s mission,” said OBA President Ryan Deckert. “We are pleased that Senators Morse and Burdick have led the charge on this difficult issue.”
OBA urges its members to reach out to their elected officials and ask them to support this important package.