With the failure of Measure 97, due largely to voter fears of higher prices for everything, Oregon democrats, mindful of a looming huge revenue shortfall, is back to talking about a corporate gross receipts tax. It’s a tax that puts a small tax increase on gross sales, rather than taxing profits.
Predictably Oregon’s larger corporations are complaining that a gross receipts tax is equal to an income tax hike because they’re still having to pay money into the state treasury. And, they claim, “the voters have already said they don’t want higher business taxes – they want a leaner and meaner state budget.
Yet, the debate goes on. Here’s the latest back-and-forth on the issue in The Oregonian. Click here.