MEMBERSERVICES
 

Understanding Ballot Measures 66 & 67

Two laws enacted in the 2009 legislative session, the focus now of a January election, will increase corporate minimum taxes and personal income tax on high earner households.

To give Oregonians an opportunity to hear both sides of the discussion the Chamber has set Thursday morning, November 12 as a date for a ballot measures Eggs ‘N Issues breakfast.

Measure 66 deals with the increased tax on income at and above $250,000 for households, $125,000 for individual filers.  It also eliminates income taxes on the first $2,400 of unemployment benefits received in 2009.  The increased taxes are estimated to raise $472 million to maintain funds currently budgeted for education, health care, public safety, other services.

Rejection of the tax changes would retain the status quo and it is estimated would reduce funding currently budgeted for education , health care, public safety, other services by estimated $472 million.

Measure 67 deals with the increases in the state’s current $10 corporate minimum tax, establishing $150 minimum tax for most  businesses or minimum tax of approximately 0.1% of total Oregon revenues for some corporations with over $500,000 in Oregon revenues.  Legislators estimate it will raise $255 million to maintain funds currently budgeted for education, health care, public safety, other services.

On the ballot a yes vote retains the tax measures; a no vote rejects the tax measures.

Hear speakers from both sides of the issue November 12 at a breakfast meeting to be held at Rivershore Restaurant, 1900 Clackamette Dr., Oregon City (across from Oregon City Shopping Center). Breakfast serving begins at 7:30, program begins at 8 am and concludes at 9 am. Reservations at $12 for members and $17 for non-members may be made on line at www.yourchamber.com or by calling the Chamber office at 503-654-7777.