From the News Radio Central Oregon KBNW BEND, OR -- Recently elected Republican state senate nominee Tim Knopp is push for a phase out of what he calls Oregon’s Death Tax. Knopp said Oregon one of three western states that still has an estate tax on books. The other two states are Washington and Hawaii. Knopp said to make Oregon attractive to businesses and retirees, the Death Tax should be eliminated. He added this shouldn’t be a partisan issue.
“Paying the tax isn’t by party. When you die, they taken your money if you raised to a certain threshold, and these days, the threshold is $1 million. And honestly, over a lifetime, if you think about your parents or your grandparents and what they accumulated, there are a lot of people who end up over that limit.”
Knopp added the current estate tax hurts small businesses, especially farms and ranches, the hardest.
“The opponents will say, ‘We’ve never had a documented case of a farm being sold or going under because of this tax’. No, what [the farmer’s family] has to do is spend tens of thousands of dollars trying to figure out how to avoid this thing, and in many cases, they just sell out to their neighbors.”
Knopp is supporting a petition that, if approved by voters, would phase out the state’s estate tax by:
- 25% in 2013
- 50% in 2014
- 75% in 2015
- And on January 1, 2016, the tax is zero
To learn more about the estate tax, and Knopp’s efforts, visit End Oregon Death Tax's Website.