Tax Fairness Oregon members Judy Davis, Jack Kysar, Larry Scruggs, Michael Litt and Jody Wiser met with Representative Schrader on January 3rd, 2011 to discuss a number of federal issues. Michael Litt outlined DeFazio’s Financial Speculation Tax bill for Schrader, who listened intently and assured us that he would consider becoming a co-sponsor.
We broach
ed the subject of estate taxes, trusts and other estate tax avoidance mechanisms. To circumvent these issues, we recommended the implementation of an inheritance tax.
Rep. Schrader asked for our insights on the recently proposed deficit reduction concepts. Since that meeting, our federal issues workgroup has been reviewing the tax sections of both the Deficit Reduction Commission Report and the Rivlin-Domenici Deficit Reduction Report. We are now in the process of drafting our recommendations and will soon be presenting them to Rep. Schrader.