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Senate Approves Tax Hikes, Governor Hails Budget Deal

Two major tax hikes in Oregon are headed to the governor's desk. The state Senate voted Thursday to raise taxes on corporations and wealth Oregonians.

The votes reversed a surprise derailment of the tax package Wednesday.

Democratic Senator Mark Hass changed his no vote to yes after Democratic leaders agreed to divert some corporate taxes to Oregon's Rainy Day Fund after four years.

That change won praise from Oregon Governor Ted Kulongoski.

Ted Kulongoski: "Because one of the things the business community has consistently told me is 'Governor, get a dedicated fund for the Rainy Day fund. I have been trying to do that and he has come up with a proposal that is going to do that. Congratulations, Senator Hass."

The $733 million tax package won final approval amid accusations of vote trading in the Oregon House.

The Oregon Republican Party filed an ethics complaint Thursday against Democratic House Speaker Dave Hunt and budget committee co-chair Peter Buckley.

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