SALEM, Ore. (AP) – A $3 billion corporate tax measure that will be on Oregon’s ballot this November has earned another endorsement.
The Oregonian/OregonLive reports that a slim majority of a panel overseen by the Citizens’ Initiative Review Commission supported Measure 97.
The statement of support will be included in the state voter’s pamphlet alongside comments from opponents.
The measure would create a gross receipts tax by charging certain corporations a 2.5 percent tax on their gross annual sales above $25 million. State economists estimate that it would raise at least $3 billion annually.
Opponents of the tax cite a report from the nonpartisan Legislative Revenue Office that described the tax as regressive. Committee members say it could increase the price of food, clothing, housing and other essential goods and services.