The short answer is "every Oregonian." The fine print is in SECTION 2. The Oregon Rebate (page 2, lines 1-9):
The math behind the Oregon Rebate is pretty simple:
Other costs and expenses, like those incurred by the state making the rebates and administering the Hold Harmless provisions are also accounted and paid for.
We went to great lengths to protect Oregonians’ income-based benefits. For example, the text of the initiative petition makes it clear that the rebate:
Yes! Owner-operated businesses will benefit from the Oregon Rebate in at least two ways:
No! The Oregon Rebate sets the minimum tax for huge corporations at 3%, those that make more than $25 million of revenue in Oregon every year. If your business is already paying 3% or more in taxes, you are already above the minimum and therefore your taxes won’t change.
Oh, and each of your customers will have about an extra $750 to spend – maybe in your business!
Yes and no. We studied the Alaska Permanent Fund Dividend (PFD) when drafting the Oregon Rebate so there are some similarities and some important differences.
Both are “direct cash transfer programs,” and Alaskans absolutely love their Alaska Permanent Fund Dividend (it consistently polls around 80% support, it helps the local economy, reduces poverty, and has it has been repeatedly found that it does not have negative consequences like reducing people’s willingness to work). Everybody in Alaska does a better because of their Permanent Fund Dividend, and we expect the same in Oregon.
Notable differences are that the Alaska Permanent Fund Dividend averages about $1,350 per person, while the Oregon Rebate will about $750; the residency requirements of the Alaska Permanent Fund Dividend is 365 days, while for the Oregon Rebate it is 200+ days; and the Oregon Rebate does not create a “fund,” which is in principle not a bad idea but in practice creates an incentive in Alaska for politicians to fight over the giant pool of money in the fund on a regular basis. We thought it’d be good to avoid that problem!
Of course, the Alaska Permanent Fund Dividend is funded by oil extraction taxes, while the Oregon Rebate is funded by the money Oregonians give huge corporations: after $25 million, 3% of it will now be rebated (returned) to us.
Extra point: Do you think that people in Alaska blame their Permanent Fund Dividend checks for the cost of gas in their state? Spoiler: No, they don’t.
They always say that they will do that, but in fact it's just a threat to try to scare voters because they don't want to pay their taxes. Let's not fall for it!
The fact that these corporations currently pay less taxes in Oregon than in any other state shows that prices and a tax rate as low as what we are proposing do not go and-in-hand. After all, if that were the case, why aren't prices lower in Oregon?
These huge corporations don't pass on their savings from having lower taxes in Oregon to consumers in lower prices or employees in higher wages. It just means that for every dollar they sell in Oregon, these corporations just make more money in Oregon than in other states!
Haha! We think it's pretty ridiculous to suggest that business owners will leave a market (Oregon) because their customers have more money to spend in the communities where they do business.
After all, customers are the only thing that cannot be outsourced!
By design, the Oregon Rebate has a very low administrative footprint for both corporations and the State of Oregon.
The Oregon Rebate just changes the rate of the minimum corporate rate that’s currently in existence, it is not a new tax. Corporations with more than $25 million of Oregon revenue will pay taxes the same as they do now, but with the higher minimum tax (from today’s less than 1% to 3%). If a corporation’s in-state revenue is less than $25 million or if it is already paying 3% or more in state taxes today, they will see no difference. For the State of Oregon, administering the Oregon Rebate will be simple and straightforward. It’ll basically feel like a “kicker” that goes out every year. The Department of Revenue will collect the new revenue just like it currently does, with minimal administrative overhead.
We expect most Oregonians to request their rebate through their state tax filings, which should be easiest for both Oregonians and the State. Oregonians who request their rebate not with their taxes will just have to complete a simple form to receive their rebate. In either case, the State’s administrative burden is limited to cross-referencing the eligibility of the recipient and issuing the rebate through an electronic payment or paper check.
Of course, the administrative costs of administering the Oregon Rebate are accounted and paid for by the new revenue
(page 2, lines 40-44 – note the “minus” at the end of line 40).