Some Members of Kotek’s Prosperity Council Unhappy About Tax Change

Some members of Governor Tina Kotek’s Prosperity Council, including real estate investor Jordan Schnitzer, have criticized her support for Senate Bill 1507A, which disconnects Oregon from federal “bonus depreciation” tax cuts in Trump’s tax bill, costing businesses $267 million over two years. The bill, which passed along party lines, retains tax cuts on tips and overtime but eliminates accelerated depreciation for business investments, prompting Portland developer Bob Ball and others to warn it will hurt housing production and economic competitiveness. Democrats argue the $900 million in potential revenue losses from fully adopting Trump’s tax cuts would devastate Oregon schools and social services, while business groups contend bonus depreciation incentivizes job-creating investments.