REPRESENTATIVE MATT WINGARD

OREGON HOUSE OF REPRESENTATIVES

HOUSE DISTRICT 26

 

 

REP. WINGARD PROPOSES ‘MAIN STREET’ ECONOMIC STIMULUS PLAN

TO HELP ALL OREGONIANS

Plan Empowers Communities to Create Jobs

 

SALEM— Rep. Matt Wingard (R-Wilsonville) today joined House Republicans in announcing the Main Street Incentive Program, a plan to encourage businesses and home owners to immediately invest in improvements to their property through a tax credit. The proposal would stimulate the economy and create jobs without increasing state debt and locking up larger portions of the state budget.

 

“The Main Street Incentive Program will provide immediate economic stimulus in communities across the state,” Rep. Wingard said. “This plan provides Oregonians a strong incentive to invest, expand and increase the value of their homes and businesses.  Like all House Republicans, I invite Democrats to join us in supporting this plan that will put Oregonians back to work.”

 

Under the proposal, Oregonians would be able to claim 50 percent of the costs of their own capital construction projects over a five-year period. Property owners pursuing “green” projects, or those that promote renewable energy alternatives, would qualify for a 100 percent tax credit over a five-year period. In order to quickly boost job creation, qualified projects must begin before September 1, 2009. The program would limit the amount of the credit to $10,000 to $50,000 for home owners and $25,000 to $500,000 for business owners.

 

“The Main Street program allows Oregonians to determine where jobs are created, not politicians in Salem,” Rep. Wingard said. “In addition to providing immediate economic stimulus, this plan offers lasting value that will benefit Main Streets and neighborhoods throughout Oregon.”

 

Rep. Wingard said the Main Street program will have a positive impact on the state budget. By putting people back to work, the state’s General Fund will immediately receive additional revenue from increased payroll taxes.

 

“In addition to stimulating the economy, the Main Street program will help state government fund important government services during this economic downturn,” Rep. Wingard said. “Growing the economy and creating jobs is the best way to generate the revenue the Legislature needs to balance the budget and prevent painful cuts.”

 

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