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Oregonians Must Decide Yes or No on Measure 118 That Will Redistribute Corporate Tax on Sales Above $25 Million Top Stories By Lucille McNamara On Oct 21, 2024 Last updated Oct 21, 2024 FILE - Oregon State Capitol - October 2024 - Salem, Oregon | Photo by Seth Smigelski for Dailytidings.com Oregonians must vote for Measure 118 on November 5 to increase the minimum corporate tax on sales exceeding $25 million by 3% and redistribute the cash in the form of tax rebates to residents who spend at least 200 days in the state annually. Big Corporations Like Nike and Intel Are Opposed Opposed to the measure are big corporations like Nike and Intel which will see their sales above $25 million channeled into public coffers. Also opposed to the measure is Oregon Governor Tina Kotek who says the measure’s ‘flawed approach’ will punch large holes in the state budget and place essential services for low-wage earners and working families at risk.’ See also: “Oregon Rebate” Measure 118 Could Turn Out To Be A Financial Burden Echoing her sentiments is Jared Walczak, vice president of State Projects and the Tax Foundation. Walczak says the measure could raise the cost of goods, drive jobs and economic activity out of state, and put state-based businesses at a ‘massive disadvantage with their out-of-state competitors,’ making it ‘an awful deal for Oregonians.’ At present, Oregon-based corporations are required to pay either the corporate income tax or the minimum tax, depending on which amount is greater. Measure 118 proposes raising the minimum tax for corporations with sales in Oregon by adding a 3% tax on sales exceeding $25 million, in addition to the existing minimum tax mandated by law. The measure would allow the Department of Revenue to allocate the extra revenue from the corporate sales tax equally among eligible residents. Protagonists for Measure 118 include the Oregon Progressive Party, Oregon Working Families Party, Pacific Green Party, and Progressive Democrats of America. The chief petitioner for the initiative is Antonio Gisbert, who says Measure 118 will drastically reduce child poverty in the state by 26%. He points out that a $3,000 contribution to a family of four could be life-changing and questions the existence of poverty ‘when we have so much wealth around us.’ See also: New Corporate Tax Could Boost the Income of Every Oregonian by $1,600 a Year Oregon would become the second state behind Alaska to direct cash transfer payments to residents funded by taxation. Residents’ Social Media Debate is Mostly Negative The consensus on the Ashland Community page on Facebook is a no vote for Measure 118. Ginny Lee describes Measure 118 as a ‘job killer,’ and asks why big corporations would want to stay in Oregon if forced to pay 3% tax on sales above $25 Million. Darin Rutledge points out that the Governor and ‘all of Oregon’s legislative leadership’ are opposed to the measure…’because this is a horrible idea for all Oregonians.’ Share your opinion by commenting below or sending a ‘Letter to the Editor’ here . References https://ballotpedia.org/Oregon_Measure_118… https://www.facebook.com/groups/ashland… Measure 118 Share Twitter Facebook ReddIt WhatsApp Pinterest Email