Small business community welcomes Oregon tax cut

Small business community welcomes Oregon tax cut

EUGENE, Ore. - The largest tax cut for small businesses in Oregon history passed the Oregon legislature Wednesday as part of a package of bills dubbed the Grand Bargain.

The cut takes the tax rate from 9.9 percent to 7 percent.

The goal: to help small businesses grow and spur job creation.

And maybe, Gary Christopherson hopes, give him a day off.

He works 7 days a week at his Little Y Market to bring home the bacon.

"Maybe with some additional tax breaks, we can, I can have a little more time for my family to do some things and hire additional people that fill my space, because of the tax breaks," he said.

The tax cut was welcome news at the Eugene Chamber of Commerce, where the majority of member businesses employ 10 people or less.

"The Eugene Chamber is really excited about this package and has supported it because it has a very good impact on small businesses," said Laura Potter with the Chamber.

Across the state, the cut will benefit an estimated 90,000 Oregon small business owners.

"So by having more revenue within small businesses that they don't have to pay on taxes, they can invest that back into their companies, creating more jobs locally, helping them grow their product and grow their business," Potter said.