'Gigantic' corporate tax hike likely headed to Oregon voters
SALEM, Ore. (AP) - This November, Oregon voters could decide on a $2.8 billion annual tax hike on large corporations as a way to boost funding for public services such as education and health care.
The ballot proposal could give Oregon the most aggressive tax structure for big business in the nation. It comes amid a national debate on ways to close economic disparities between the rich and poor in a post-Recession era.
Labor unions behind the proposal are just one step from getting it on the ballot after submitting 130,000 signatures to state elections officials last week. They say it's a progressive strategy to force large companies to pay their fair share for the greater good.
But a new state analysis shows much broader implications, with job losses, rising consumer costs and population declines.
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