04/01/2025
I'm glad to see folks paying attention to this number.
New Report Reveals Oregon’s Estate Tax Is Forcing People to Move, Senate Republicans Seek Reform
SALEM, Ore. – A newly released report from the Common Sense Institute confirms that Oregon’s estate tax is driving retirees and their wealth out of the state. The report shows estate tax collections have tripled since 2012 and are projected to hit $471 million by 2030. With the lowest exemption and one of the highest tax rates in the nation, Oregon is making it harder for families to stay and build their future here.
Senate Republicans introduced multiple estate tax reform bills at the start of the session, including SB 380, SB 408, SB 764, SB 770, SB 648, and SB 649. These bills offer a range of solutions to reduce or eliminate the estate tax and protect family-owned businesses and family farms. Democrats, who control the committee process, have the sole authority to advance these bills. They don’t need to pass all of them—just choose the solution that works best for Oregon’s future.
“People aren’t leaving Oregon because they want to. They’re leaving because bad policies are forcing them out,” said Senate Republican Leader Daniel Bonham (R-The Dalles). “Democrats have an opportunity to put partisanship aside and do what’s right for the future of our state. Clinging to every tax dollar while families and businesses pack up and leave is not a path to prosperity. It’s time to think boldly and make Oregon a place where people can afford to stay.”
According to recent projections, phasing out the estate tax would result in:
· 116,000 more individuals in Oregon
· 54,000 more employed individuals in Oregon
· 35,000 more individuals in the labor force
· $11.3 billion in additional GDP
· $19.2 billion in increased sales (output)