Oregon Voters Reject Corporate Minimum Tax Hike

Voters in deep blue Oregon have rejected Measure 118, a tax increase.

A Yes vote supported “increasing the corporate minimum tax on sales exceeding $25 million by 3%, removing the minimum tax cap, and distributing increased revenue to Oregon residents who spend more than 200 days in the state.”

But in a win for taxpayers, voted said No.

The rejection is a loss for out of state progressives who dreamed of using the tax to impose a “Universal Basic Income” in the state.

This tax hike would have reduced earnings for workers and driven up prices.