Oregon ballot measure would tax big corporations more, return revenue as rebate to residents

Oregon voters will have the opportunity on Tuesday to vote on a first-in-the-nation ballot measure that would levy an additional tax on large corporations to be returned to the people as a basic-income "rebate."

The measure would increase the corporate minimum or corporate income tax by 3% on sales above $25 million, which in turn would provide the Beaver State's 4 million people with an estimated $750 each, according to its chief proponent.

Antonio Gisbert, a former neuroscientist-turned-organizer and one-time representative for AFSCME, is the chief petitioner of the ballot measure. He told OpenDemocracy in a recent interview, "$750 annually can be negligible or transformative depending on your privilege, income, and socioeconomic status."

Gisbert added a second review by the Oregon government estimated the levy would collect $7 billion and raise the rebate to $1,600-per-Oregonian. In other comments, Gisbert said the new program would greatly reduce poverty in the state.

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Lower-income residents could opt for a direct cash payment, according to another analysis.

Gisbert told States Newsroom that big corporations should "pay their fair share."