Oregon Ballot Measure 118, the Corporate Tax Revenue Rebate for Residents Initiative, is a proposed Oregon state initiative that will be decided by voters as part of the 2024 Oregon elections on November 5, 2024.[1][2]
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Corporate Tax Revenue Rebate for Residents Initiative |
If accepted, the measure would increase the state corporate minimum tax to 3% on businesses with sales of more than $25 million, and then use those funds to give a tax rebate of $1,600 to all Oregonians regardless of their income level. It has received overwhelming opposition from Oregon politicians across the political spectrum (including Governor Tina Kotek and State Treasurer Tobias Read), public policy organizations, and businesses.[3][4][5] Opponents of the measure believe that the increased sales tax would be passed on to consumers through price increases, and criticize the tax rebate for its lack of income or age test (i.e. that even Oregon billionaires like Phil Knight or Tim Boyle would receive an annual check).[6] The primary donors who have supported the bill are Californian residents who wish to promote the idea of a universal basic income.[5][7]
See also
editReferences
edit- ^ Bourgeois, Michaela (August 2, 2024). "Oregon voters to decide on 5 ballot measures in 2024 November election". KOIN. Retrieved October 15, 2024.
- ^ Fuentes, Carlos (October 29, 2024). "Election 2024: Your guide to Oregon's November election". The Oregonian. Retrieved October 29, 2024.
- ^ "Oregon Measure 118, Corporate Tax Revenue Rebate for Residents Initiative (2024)". Ballotpedia. Retrieved 2024-10-29.
- ^ "Measure 118 supporters ramp up messaging, while being wildly outspent". opb. Retrieved 2024-10-29.
- ^ a b Biggest backers of Oregon's Measure 118 are Californians with tech ties KGW
- ^ Measure 118 supporters ramp up messaging, while being wildly outspent Oregon Public Broadcasting
- ^ Measure 118 promises Oregonians more money, but it could come at a cost Oregon Public Broadcasting
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