Title: Increases corporate minimum tax when sales exceed $25 million; funds education, healthcare, senior services
How much would it cost? Unknown. The state government will earn $548 million in tax money in the first half of 2017. The state government will earn $3 billion every year after that. The state will spend more on K-12 education, healthcare, and senior services.
People for this say:
The state will earn $3 billion every year. This will pay for education, healthcare, and senior services. Right now, the state is spending more than it is earning. If the state does not raise more money, it will have $750 million in budget cuts every year. Only 1% of businesses in Oregon will have to pay this tax. Small businesses will be protected. If a corporation has to pay this tax, they can get a federal tax deduction. Corporations that make more will pay more. The state will be more stable during a recession.
People against this say:
Corporations will have to raise prices or reduce costs so they can pay the tax. This will hurt Oregon businesses, which will have to pay more. It will raise costs for food, gas, medicine, clothing, housing, and utilities. The average family will pay $600 a year. It will be a regressive tax. This means lower income families will pay more of what they have than higher income families do. Fewer jobs will be created. The ballot measure does not say exactly how the state will spend the money.