OBI has endorsed the campaign to defeat Measure 118, the costly tax on sales formerly known as Initiative Petition 17.
The measure will appear on the November 2024 ballot. If passed, it would enact the largest tax increase of any kind in Oregon history. The $6.8 Billion annual tax would be bad for Oregonians and bad for Oregon.
It would:
– Impose a 3% tax on a corporation’s gross sales in Oregon over $25 million.
– Tax sales, not profits. Businesses would be affected even if they were losing money.
– Increase prices for everyday items and services, including food, medicine and clothing.
– Tax sales and services at every step of the production and selling process in Oregon, creating a tax on a tax that will compound its effects.
– Give politicians in Salem a blank check. They could amend the tax with a simple majority vote, redirecting revenue wherever they chose.
Follow the link to the right for the NO on Measure 118 website.
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