One of our favorite sources of tax information is ITEP, the Institute for Taxation and Economic Policy.

They just put out this info about the Trump tax proposals, as they were that day. He does keep adding new tax breaks in his speeches.  We though you might find ITEP’s analysis interesting.

The middle 20% of Americans who make between $55,100 and $94,100 would pay an average of $1,530 more in taxes every year if former President Trump’s tax proposals went into effect, according to our latest analysis. Meanwhile the richest 1% would get an average annual tax cut of $36,320.

➞ We break it all down in our new video, and, if you missed it, you can check out the analysis here

If you looked at your voters’ pamphlet and counted, as I just did, you’d know that there are 29 arguments in favor and 55 in opposition to M118.

Don’t want to read them all?

There is now a website for the groups like ours opposing M118. It pulls out quotes from some of the 55 opposition arguments.  That might be ll you need.  The website

https://oregoniansoppose118.com/vote-no/

is well done with some great quotes from different groups.  And includes a broad list friends of TFO like OCPP, the League of Women Voters and of course unions.

At the bottom of the website is a form for additional groups to add their names.

If you know of other groups opposing, get them added to the list.

The TFO quote:

“Unfortunately, we do not support the Measure as it was designed. Like most initiatives that are designed by a group without broad public discussion or legislative input, this attempt at funding a guaranteed minimum income is poorly drafted and fatally flawed. Measure 118 is a hot mess and voters should reject it as inequitable and wasteful.”

Check all the quotes out.  It’ll take way less time than reading the many, many statements in the voters’ pamphlet.  https://oregoniansoppose118.com/vote-no/

We’ve already said we think Measure 118 is a hot mess. Here’s what we put in the Voter’s Pamphlet on Measure 118

Tax Fairness Oregon Opposes Measure 118

Tax Fairness Oregon is a network of volunteers who advocate for a fair, equitable, and efficient tax code.

We fight against tax breaks for large corporations and wealthy individuals and for a more progressive tax system.

We’ve carefully studied Measure 118, and we find this measure flawed.

Measure 118 is simple in concept and appeals to a principle that TFO supports: increase taxes on large businesses that have learned how to avoid taxes. However, without substantial legislative changes it would reduce funds available for schools, mental health, public safety, and critical state priorities.

Measure 118 will have long term impacts on our economy and state budgets with unintended consequences.

* The distribution of funds to all Oregonians, regardless of income, is wasteful resulting in fewer state resources for those who need them most.

* It will require hundreds of new state employees to manage the program.

* The tax is 700% larger than our Corporate Activities Tax. No other state has a gross receipts tax nearly this high.

* The business tax burden would be unevenly distributed between individual businesses and industries. Industries with small profit margins could pay most of their profits in this tax unless they are able to increase prices.

* There are no exclusions for groceries, medicine or housing.

* The size of the tax increase will make it difficult to find additional future revenue sources for schools, universities, mental health and housing.

* It is a risky, untested, social experiment.

* We should instead, expand existing, proven programs helping low-income Oregonians like our Child Tax Credit and Earned Income Tax Credit.

It sounds good, but it will hurt you in ways you cannot see
Measure 118 is inequitable and wasteful

Vote No on Measure 118

To see many other arguments on M 118, go to the online Voter’s Pamphlet

In the last two weeks the Marion County Dems voted 27 to 3 to oppose M 118  and the Washington County Dems voted 45-3 to oppose.  Meanwhile both Multnomah County Dems and the state party decided to take no position and the Benton County Dems voted to support M 118. If your local county party hasn’t taken a position, give a call so we can help educate.

A week ago the House and Senate revenue committees each heard an update on M 118  from Legislative Revenue Officer, Chris Allanach. LRO’s new Measure 118 report is 24 pages long.  But you’ll probably find the PowerPoint Allanach used in his presentation a far easier bite. One chart (page 9) shows how passage of M 118 would affect a set of c and s-corporation businesses.  For example, it shows that a corporation with $90 million in Oregon sales currently pays $446,000 in Oregon corporate income tax.  Under the measure, the General Fund won’t get that money, because the corporation would be paying the new Oregon Rebate Minimum Tax and while they will be paying more than four times more, what they pay will be going to rebates, leaving the General Fund with $446,000 less for schools, housing, drug treatment, roads, etc.

If you listen to Allanach’s presentation to the Senate committee, you’ll also catch some very strong comments from Senators Boquist, Golden and Chair Meek.  (This part of the meeting begins at 1 hour 47 minutes.)

This is the first press response we saw to the hearings.  It’s from the new online newsource, Capital Chronicle, one of our favorite newer sources of statewide news.  We do think the reporter mis-understands the source of most of the over $1 billion in annual lost resources for the General Fund, that’s why we gave the example above.  Most of the loss of General Fund dollars is from so many fewer corporations paying the corporate income tax since they will pay instead the higher new corporate minimum tax which will go to rebates.  (See slide 9 of the PowerPoint.)

A critical citizens’ initiative, Measure 118, will be on the ballot this November.  If it passes it will dramatically change Oregon’s tax and spending policy. It would raise around $7 billion per year through a new gross receipts tax on corporations (that’s 50% more than the State’s current revenue from all taxes!) and devote it all plus some General Fund money to fund a one-of-a-kind rebate program to dole out payments to all residents who’ve lived here at least 200 days.

The proposed ballot measure is simple in concept and appeals to principles that Tax Fairness Oregon supports: increasing taxes on large businesses that have learned how to avoid paying taxes or hide their profits in tax shelters, and makings sure people have enough money to live with dignity. While the language of the measure was written by a group of folks in Eugene, funding for signature gathering and staff has been primarily financed by a California investor who supports a guaranteed minimum income and sees Oregon as a relatively inexpensive state in which to get a citizens’ initiative passed.

Unfortunately, we do not support the Measure as it was designed. Like most initiatives that are designed by a group without broad public discussion or legislative input, this attempt at funding a guaranteed minimum income is poorly drafted and fatally flawed.

This is an issue that will get a lot of attention in Oregon over the next four months. Let us know if you have questions. We encourage you to read not only our wonky set of talking points, but the measure itself and the State’s latest fiscal analysis (which will show you why we call Measure 118 a hot mess).

Just a reminder that we’ve having a strategy meeting on the baseball stadium issue.  After a brief overview, we’ll be discussing how to stop legislators from giving money to build the new baseball stadiums need by privately owned teams to satisfy the contracts they signed with MLB back in 2021 plus money to the Volcanoes.

If you haven’t yet signed up for the meeting Tuesday, January 30^th from 7:00-7:45 pm, sign up here.

We just learned today that the teams’ lobbyists are circulating a letter amongst legislators asking them to sign on to giving baseball teams $27 million for stadiums in Hillsboro, Salem and Eugene. First it was $22.5 million, then $25 million, now it’s $27 million.

The Washington County Commissioners are discussing tomorrow morning whether they should provide $8 million in funding for the Hops’ stadium.  Their discussion is about whether to put it on their agenda for a later meeting. But it will be a real decision point.

We’ve not heard of any of the teams seeking additional owners to help bear the cost of the decisions they’ve made to promise MLB they’d get lovely, new stadiums.  Nor have the billionaire owners of MLB promised to help cover the cost.  After all, why not get the public to cover their commitments?

Please join us. Sign up here

Should the state give $25 million to build baseball stadiums for professional, privately-owned baseball teams? This is still on the docket for the February session. We sent you our commentary on it in September: https://taxfairnessoregon.net/20-million-for-the-owners-of-the-hillsboro-hops/. And have done considerable research since, leading to this talking points paper: https://taxfairnessoregon.net/wp-content/uploads/2024/01/TFO-comments-Stadium-Funding.pdf we’ve been sharing with legislators.  But leadership is still a problem.

If we’re going to stop this, we need your help.  We’ve gotten a “no way” response from 30 of the 90 legislators, “I’m all for it” from one and “undecided” from ten.  We need your help in getting commitments from others.

Join us at a strategy meeting to tip the scale.

Tuesday, January 30^th from 7:00-7:45 pm

Register in advance for this meeting: Register

After registering, you will receive a confirmation email containing information about joining the meeting.