The Oregon Rebate is ballot initiative for the 2024 election that will rebate about $750 to every Oregonian (including children and all other Oregonians) every year; after increasing the minimum tax rate for the biggest corporations doing business in Oregon.
Today, the minimum corporate tax rate after $25 million of Oregon revenue is less than 1%, and the Oregon Rebate proposes to increase this rate to 3%.
The new revenue will be rebated directly to all Oregonians, anyone who's been an Oregonian more than 200 days of the previous year, regardless of age, income, or any other status.
The Oregon Rebate is qualifying for the November 2024 election.
Read the full text of the petition here: IP 2024-017
$750 for every Oregonians is a big deal.
Because kid's count too, the estimate is that the Oregon Rebate will reduce child poverty in Oregon by 26%!
The rebate for a 4-person household will be about $3,000!
The rebate is not taxable in Oregon, not means tested, and it does not affect Oregonians' eligibility for income-based benefits.
All the rebates will also revitalize our local communities and businesses.
Statewide, the rebate will be a direct economic stimulus of about $3 Billion, every year.
Fact: The largest corporations pay less than 1% in Oregon tax. We all pay between 5-10% in Oregon tax. Is that right? No! So we start to fix that.
The revenue to fund the Oregon Rebate is generated by increasing the minimum tax rate for the largest corporations.
Big corporations are doing BIG business in Oregon. Oregon corporate tax payments jumped 46% in 2021, topping $1 billion, and corporate profits are on track to smash profit records in 2022. Meanwhile, the federal minimum wage hasn’t increased since 2009.
It’s time to tell big companies that doing business in Oregon means paying their fair share.
The Oregon Rebate increases the tax on corporations making more than $25 million a year in revenue in the state of Oregon, increasing their minimum tax rate to 3%. It is currently less than 1%.
The corporate increase will generate about $3 billion per year for the people of Oregon and you’ll see a direct benefit of that, in the form of a cash rebate!
So, your favorite local small business won’t feel a thing…other than every single one of their customers, and employees, having an extra $750!
It’s that simple. Let’s make it happen!