Measure 118 is on the November ballot. Here's what the 'Oregon Rebate' would do
PORTLAND, Ore. — For working Oregonians, an additional $1,600 each year in income — no strings attached, ostensibly — is nothing to sneeze at. But a proposed measure that would hand that out as a tax credit or send it out as a check is drawing major backlash from both sides of the aisle.
Oregon voters will see Measure 118 on their November ballots. If passed, it would institute a 3% tax on a corporation's total sales in Oregon — everything above $25 million. That money would then be distributed equally among state residents, all ages and income levels, for an estimated $1,600 per person each year.
If voters approve the measure, it would go into effect next year and be paid out in 2026.
The burden would fall on relatively few companies: an estimated 1,422 C-corporations and 791 S-corporations, according to state analysts. That's 2,213 out of a total 120,476 such corporations in the state.
But Measure 118 has garnered a nigh-unprecedented amount of opposition from businesses large and small, elected officials both Democrat and Republican (including Democratic Gov. Tina Kotek), trade groups and local chambers of commerce. All of them agree that the measure is a bad idea, or at least one that isn't well-implemented.
https://www.kgw.com/article/news/local/the-story/oregon-measure-118-tax-all-corporate-sales-hand-residents-basic-income/283-de73c421-42cd-449c-8bd7-f7e224976e43