Additional Coverage:
- Oregon businesses are spending millions to oppose a ballot measure that would give every resident a $1,600-a-year basic income (newsbreak.com)
Oregon Residents to Vote on Tax Hike for Universal Basic Income
Oregon voters will soon decide on a corporate tax increase that could provide them with a universal basic income of $1,600 annually. The measure, known as Oregon Measure 118, would raise the corporate tax rate by 3% on companies with over $25 million in state revenue.
Business Opposition and Lawmaker Concerns
Businesses have spent millions to oppose the measure, claiming it could harm the state budget and essential services. Democrats and Republicans alike have expressed concerns that Measure 118 could deplete state funds and lead to cuts in critical areas such as road maintenance and addiction recovery.
Nonpartisan Analysis
A nonpartisan report found that low-income recipients could lose eligibility for federal assistance if Measure 118 passes. The report also noted a potential $1.3 billion hole in the state’s general fund that would need to be addressed.
UBI Debate
Universal basic income programs provide unconditional payments to individuals regardless of income. Proponents believe it can alleviate poverty and boost the economy, while opponents often view it as a form of socialism. Oregon would become the second state with a statewide UBI if Measure 118 is approved.
Political Divide
Despite widespread opposition from politicians and business leaders, the measure’s petitioner remains optimistic about voter support. He believes it would promote corporate tax fairness and benefit ordinary Oregonians. However, Governor Tina Kotek and lawmakers from both parties have voiced concerns about the measure’s potential impact on the state budget.