Recorded on: February 19, 2016
Air Date: February 22, 2016
Initiative Petition 28 proposes a new tax on Oregon C Corporations to fund senior services, schools, and health care. Most large companies are C Corporations and they pay corporate taxes. Other business entities, including S Corps and LLC's, attribute their profits to stakeholders, who pay taxes individually. If IP28 qualifies for the ballot and is passed by the voters, the measure would impose a 2.5 % tax on C Corporation income from Oregon sales above $25 million, raising about $2.5 billion per year. The revenue would potentially fill the annual gap of more than $1 billion between the Quality Education Model and actual budgeted state K-12 support, the state's 10% share of the Medicaid expansion under the Affordable Care Act, and ongoing shortfalls on care for senior citizens.
This program features a debate between representatives of A Better Oregon, a citizen group that supports passage of IP 28, and Grow Oregon, a citizen group that prefers other options for closing the gap.
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