[5]
By Oregon Small Business Association [6],
Shouldn’t small business get the same tax advantages as big Wall Street Firms?
The Oregon Small Business Association, through the Local, Family & Small Business Fairness Act PAC, submitted sponsorship signatures to the Oregon Secretary of State Elections Division on May 18th for Initiative Petition 2, for the 2020 November General Election. The measure seeks to make all tax rates, calculations and loopholes afforded to the largest publicly-traded companies automatically available for small and family businesses. The ballot measure is in response to Senate Bill 1528, which eliminated tax relief for Oregon’s smallest businesses, while providing the wealthiest Oregonians new tax credits to avoid paying higher federal tax liability.
“Small business owners and employees responded almost immediately after Governor Kate Brown failed to veto Senate Bill 1528,” said Lindsay Berschauer, Director for the Local, Family & Small Business Fairness Act PAC or LFSBFA PAC. “We received an overwhelming number of phone calls and requests for additional signature sheets for IP 2. Every signature submitted today was volunteered by a small business owner across Oregon,” she said. “With Governor Brown’s phony, campaign-driven special session stunt starting Monday, this ought to send the Governor and the Legislature a strong message that our small business owners are fed up and we want tax equality and long-term predictability, just as they’ve given large Wall-Street corporations.”
If successfully passed by voters in 2020, the “Local, Family & Small Business Fairness Act” would require a revision of Oregon’s tax codes to ensure any tax advantages given to large, publicly-traded, and out-of-state corporations operating in Oregon would be automatically allowed for thousands of small businesses and solo entrepreneurs.
“Small businesses are the backbone of our state and we are finding it increasingly difficult to grow and provide for employees,” said Chief Petitioner Elizabeth Maguire, who submitted today’s sponsorship signatures. “The
Governor faced immense backlash after she signed Senate Bill 1528, and in response called a special session to ‘help’ small businesses. From what we’ve seen of her proposed legislation, it’s clear she has no understanding of the capital needs of small businesses, or how keeping more of your revenue is the quickest way to give small business owners the capital they need to grow their businesses, hire more people, offer employee benefits, and take care of their own families.”
The Elections Division now has two weeks to count and certify the sponsorship signatures. OSBA anticipates qualifying for the ballot title process and is looking forward to getting IP 2 to the 2020 ballot for voter consideration.
“Based on anecdotal conversations with voters, and professional polling of the issue to the broader electorate, it’s clear that Oregonians want to see this tax imbalance between mom-and-pop businesses and large corporations rectified. Since the Legislature and Governor Brown won’t fix this injustice, we’re ready to take this to the people,” Berschauer stated.
The ballot measure filing can be found on the Secretary of State’s Elections Division web page.