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Senator seeks to make gold and silver legal tender in Oregon; opponents call tax exemption unfair
Summary
Senate Bill 1158 would declare gold and silver legal tender in Oregon and exempt proceeds from their exchange from state income, corporate and corporate activity taxes. Supporters framed the bill as a response to inflation and a way to give Oregonians an alternative store of value; opponents said the measure improperly exempts investment income.
Senate Committee on Finance and Revenue members heard testimony May 19 on Senate Bill 1158, which would declare gold and silver legal tender in Oregon and exempt the proceeds from the exchange of gold and silver from personal income tax, corporate income and excise taxes, and the corporate activity tax.
Senator Kim Thatcher (R‑SD 11) introduced the bill and argued it would provide Oregonians with…
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