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Senate Finance and Revenue Committee advances SB 1507 as amended, adopting dash 3 and dash 7
Summary
The Senate Finance and Revenue Committee adopted dash 3 and dash 7 amendments to SB 1507 and voted to send the bill to the Senate floor with a due-pass recommendation after a session of invited testimony and technical briefing. Debate centered on expanding the Earned Income Tax Credit, a $1,000 jobs tax credit, and whether to disconnect from select federal tax provisions including bonus depreciation.
The Senate Finance and Revenue Committee voted to advance Senate Bill 1507 as amended, adopting two amendments labeled dash 3 and dash 7 and sending the measure to the Senate floor with a due-pass recommendation.
Chair Broadman opened the Feb. 6 work session saying she would evaluate the bill "through the lens" of affordability, and described key elements in SB 1507: "The expansion of the Earned Income Tax Credit that is in this bill will cut taxes and put money back in the pockets of over 200,000 households," she said, framing the legislation as targeting working families facing rising costs.
The committee first adopted the dash 3 amendment, described by staff as a "rolling reconnect" that updates Oregon's definitional ties to the federal Internal Revenue Code. Committee staff said dash 3 carries minimal direct fiscal impact because it principally adjusts definitional references.
The chamber then debated and adopted the dash 7 amendment, a larger,…
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