Economy

Oregon’s economy has sputtered and struggled since Federal regulations resulted in the near death of our timber industry. Encouraging tech companies and other industries to locate in Oregon has been difficult, as our corporate tax rates are higher than many of our neighboring states. Small businesses, which make up 70% of Oregon’s economy, continue to struggle under the oppressive and nonsensical COVID mandates that are nothing more than political ploys at this point. On top of all of this, we have near run away inflation, and a housing crisis that is exponentially worse than many neighboring states due to a continued belief that simply throwing money at the problem will some how make it go away. Oregon’s economy is suffering, and drastic steps may need to be taken to correct this.

Oregon ranks 8th in average burden of licensing requirements. That means Oregon is the 8th most difficult state for small businesses to start thanks to higher costs and a larger number of imposed regulations. Oregon is one of the single most taxed states despite the lack of a sales tax, and our median family income is in the lower half. We cannot tax our way into prosperity or regulate our way into it. We need to have an economy that legitimately supports growth and the success of our industries, not an economy that simply facilitates increased government spending. Legislation should be introduced that decreased the cost burden and regulatory burden associated with market entry.

In this district specifically, the timber industry is vital. As continued attempts by environmental advocacy agencies to limit the industry have compounded on increased federal regulations this industry has suffered immensely. Luckily this industry was far less impacted by COVID than others, but this does not make up for the loss of jobs and the negative economic impacts that have occurred over the past several decades. Rural areas have increasing suffered negative economic impacts thanks to policies that are meant to positively impact our few urban areas. The timber industry is vital to our rural communities and this district specifically. Legislation needs to be introduced that rolls back the disastrous limitations that have been imposed on the timber industry, encouraging economic growth and providing higher wage jobs.