FOR IMMEDIATE RELEASE Contact: Russ Walker (503) 709-8864

Tax Referendum Financial Report Indicates Strong Local Support

( Salem , OR )— The tax repeal campaign today submitted their Contribution & Expenditure report to the Secretary of State's office. The report, which shows the financial activity for the chief petitioners on the referendum, is dominated by Oregon contributions, demonstrating strong local support for the repeal of House Bill 2152.

A total of over $600,000 was raised from Oregonians to help fund the signature gathering effort of the campaign. Total expenses of just over $575,000 leave the campaign with a cash-on-hand balance of $34,000.

Direct cash contributions included nearly 1,500 donors each giving under $50 to the effort. “This number says a tremendous amount about the grassroots support our campaign has experienced,” said Russ Walker, Director of Oregon Citizens for a Sound Economy and chief petitioner for the referendum.

“The volume of twenty, ten, five and even one-dollar contributions tells us that Oregonians are willing to give whatever they can, no matter how small, to help this cause. They know this tax package is not a fair and responsible solution,” continued Walker .

In addition to a large base of grassroots donors giving cash contributions to the Taxpayer Defense Fund, the campaign received various in-kind contributions from organizations throughout Oregon . The largest of these was Oregon Citizens for a Sound Economy, which received early financial assistance from some of Oregon 's most pioneering businesses.

“I feel very fortunate to have found success in a state that I love and wanted to help ensure that Oregon heads in the right direction,” said Joan Austin, founder and Vice-President of A-Dec, Inc., a Newberg-based dental equipment manufacturing company. “Continued emphasis on job creation and increasing the tax base, not the tax rates, is the direction we ought to be taking ourselves.”

The referendum officially qualified as ballot measure 30 for the February 3, 2004 election after the certification of nearly 120,000 signatures last Wednesday. A “no” vote will prevent the legislature's tax plan from taking effect. A “yes” vote will implement the various tax increases. Ballots will be mailed in the middle part of January.