Oregon The People’s rebate
IP 17 is titled by the petitioners
THE OREGON REBATE
A catchy name for a petition that creates a 3% corporate minimum tax on businesses with a GROSS minimum sales of $25 million. Realize that GROSS is reflective of before the cost of doing business. Not net sales. This would amass an estimated amount of $7 BILLION a year and give each individual in Oregon $750.00 a year. This amount collected would also REDUCE the federal benefits received. Tax Foundation did an analysis of this tax and what it would mean for Oregon Businesses. According to the Tax Foundation “Oregon is one of only two states, with Delaware, to impose both a gross receipts and a corporate income tax. This already yields one of the highest business tax burdens in the country.”
An interesting twist to this story is that IP17 has been 99% funded by money from outside of the state? Why would billionaires outside of Oregon want to fund a measure that would tax Oregon based corporations?
Contributions from Jones Holding & Jones Parking
$1,354,750 was contributed to the Oregon Rebate by Jones Holding and Jones Parking. Jones Holding is located in California and the agent is Walter Mandell and Jones Parking in California is a branch of Jones Parking in Delaware. Unsure what what services these companies provide.
Other large sums of funding were provided by Alexander Tamas a wealthy investor in San Francisco and Giselle Huff of Walnut Creek California.
That is a total of $1,477,750.00 funding from outside of Oregon that would effect Oregonians and Oregon businesses.
IP17 has now been given a ballot number, MEASURE 118. If it passes Oregon corporations would pay the tax to the State of Oregon and distribute funds through the Oregon Department of Revenue. The administration of the funding will also create additional costs. Currently the state is failing at processing people’s unemployment benefits would this just be another opportunity for the state to take money and not distribute it correctly?
Recently Governor Kotek has come out publicly in opposition to Measure 118. Stating that it would greatly effect the state’s budget. If Measure 118 goes down in defeat in November, Oregon likely will not see the last of UBI-Universal Basic Income “like” measures. Currently there are three mayors in Oregon that have joined a national group that is pushing for UBI.