The Oregon People’s Rebate is an initiative petition qualifying for the November 2022 election that will REBATE about $750 to every Oregonian , every year. This REBATE will go directly to anyone who spends more than 200 days in Oregon, regardless of age, income, or any other status. “About $750” is an estimate – about 4 million Oregonians will share an equal part of about $3 billion of new revenue.
The revenue to fund the REBATE comes from increasing the minimum tax rate for big Wall Street corporations after $25 million of Oregon revenue to 3%. Currently, their minimum tax rate is less than 1%! The increased minimum tax rate only impacts big Wall Street corporations doing business in Oregon – those that make more than $25 million a year, or over $68,493 every single day, of revenue in our state. It doesn’t matter where the business is based, just how much money they make in Oregon.
So, your favorite local shop won’t feel a thing, other than every single one of their customers having an extra $750! “We’re talking Comcast, Nike, Apple, corporations like that will have their corporate tax rate increased on their profits over $25 million. Oregon has one of the lowest corporate tax rates in the nation. This would put Oregon in the middle of the pack,” explained Anthony Johnson, Political Director for Oregon People’s Rebate.
Regardless of the differing outlooks, it’s up to Oregonians to decide if they want this on the ballot. “Opponents will say jobs will leave the state, they will have to increase prices, but that is really just propaganda because they don’t wanna pay the tax,” Johnson said.
“A lot of these prices are set nationally, so what you buy from Nike or Apple in Reno, Nevada isn’t jacked up because Nevada has a higher corporate tax rate than Oregon has. So really, it benefits every Oregonian. It puts money in your pocket and it benefits small businesses. Corporations like Starbucks–they will have to pay an increase in corporate taxes, but your local mom and pop, your local small business coffee shop, they won’t have to pay that tax.”
