What Will Measure 97 Really Do?
Tonia Hunt, Executive Director of Children First for Oregon
Sandra McDonough, President and CEO of the Portland Business Alliance
Measure 97 on our November ballot would provide about 25% more money for education and other state-funded services by enacting the largest new state tax in decades. If approved, it would raise about $6 billion per biennium from about 1,000 large "C" corporations with a levy of 2.5% on all Oregon sales over $25 million.
Salem City Club opens the 2016-17 season with a debate on this proposed corporate gross receipts tax. Presenters will discuss the legislature's ability to fund new and expanded services as well as different estimates of how much of the 6 billion would be passed along to Oregon consumers.
Both sides are mounting multi-million dollar advertising campaigns. Some observers have predicted more money will be spent on Measure 97 than on any other ballot measure in Oregon history.
As our speakers will explain, Oregon now taxes corporate profits but this would be the first tax on most kinds of sales. Only about 1,000 very large corporations would pay this tax, but economists differ on the degree to which they would pass it along to consumers.
Doors Open at 11:15
Noon - Friday, September 9, 2016
Wednesday at Noon on the week of the program