November’s ballot will include a measure that would send an annual rebate check to every Oregonian. Referred to as “The Oregon Rebate,” the measure would provide for an annual tax rebate for every Oregonian that qualifies. The rebate would be funded by an increase in the Oregon corporate activity tax, with the amount of the rebate to be determined based on the amount of taxes collected by that tax. According to an analysis by the Oregon Legislative Revenue Office, if the measure is successful, Oregonians could expect rebate checks of $1,600 for the first year.
Corporations in Oregon currently pay a corporate activity tax equal to 0.57% of gross sales over $25 Million, minus a maximum deduction of 35 percent. Measure 118 would increase that tax to 3 percent
Per the measure, Oregonians must have resided in Oregon for 200 days or more during the year to be eligible for the rebate. Eligibility for the rebate would not be based on a person’s income. With no means testing included in the measure, Oregonians would be elgible for the rebate, regardless of how much money they made during the eligibility year. Oregonians of all ages, to include children, would be eligible for the rebate.
Proponents of the measure indicate that the measure would have a sizeable impact on the lives of everyday Oregonians, and greatly reduce childhood poverty, while the measure’s opponents claim the the measure would increase inflation, and disincentivize business investment in the state.
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