Oregon lawmakers eye homeowner tax breaks for budget fix - KPTV - FOX 12

Oregon lawmakers eye homeowner tax breaks for budget fix

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SALEM, OR (KPTV) -

Oregon lawmakers are looking to homeowners and the tax breaks they receive as one potential solution to the state's $1.6 billion budget deficit for the next two years.

Debates are being held in Salem this week on two proposals that would reduce or eliminate the allowable deductions that some homeowners can claim from mortgage interest and property taxes.

The state hasn't said yet how much extra revenue the proposals could raise, but any additional money would go into the state's general fund and a separate fund for emergency housing assistance programs.

Proponents say the proposals would only affect the wealthiest homeowners, while conservatives argue that the state's housing affordability crisis would only get worse.

Lawmakers heard testimony on Tuesday, with the next round of debate scheduled for Thursday.

Reporting by Kristena Hansen

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