Oregonians will vote on a new tax for large businesses

(OCTOBER 10, 2024) Measure 118 is a proposal on the Oregon ballot this year. If voters approve it, it will tax large businesses and give the money to Oregon residents. It’s become a big topic of debate, and lots of people have strong opinions about it.

The measure would add a 3% tax on businesses making more than $25 million in Oregon. The money from this tax would then be divided among all the people living in the state. The amount could be around $1,600 a year per person. But it’s hard to say for sure how much people will get because the amount could depend on many factors.

Supporters of the measure say it will help people, especially those struggling with poverty. They say that it’s a fair way to make big companies pay more. They believe it could also boost the economy by putting money in people’s pockets. Some even say it’s a step toward a system where everyone gets regular payments from the government, an idea called universal basic income.

However, many people are against Measure 118. Businesses worry that this tax will lead to higher prices for customers. Some people also fear that giving out money might hurt other government programs, like funding for schools and healthcare. Others don’t like that wealthy people would get the same payments as those who need the money more.