Voters Reject Oregon Corporate Hike, Back Georgia Tax Court (1)

Oregon voters Tuesday rejected a ballot measure that would have raised the minimum income tax on a handful of large corporations to fund annual rebates to residents.

The proposal (Measure 118) would have increased the state’s corporate income tax revenue by up to $15.6 billion and generated $17.1 billion in rebates during the 2027-29 biennium, according to a legislative fiscal analysis. The proposed tax hike would have affected businesses with at least $25 million in annual sales within Oregon, avoiding a majority of companies. But it faced broad, well-funded opposition from large corporations, a bipartisan group of lawmakers, think ...