Gordon Friedman

Statesman Journal

A ballot measure that would raise corporate income tax rates in Oregon has been approved by the Secretary of State's Office for the November ballot after the required number of signatures were turned in.

Initiative Petition 28 would create a 2.5 percent tax on sales above $25 million.

It's estimated the measure would raise $6 billion a biennium. The state Legislature would decide what to do with the revenue.

Groups supporting and opposing IP-28 quickly released statements after it was certified for the ballot.

The business-backed Defeat the Tax on Oregon Sales group reiterated concerns with IP-28 described in a report by the nonpartisan Legislative Revenue Office. The report showed that the initiative would slow job growth and disproportionately burden low-income people via increased cost of goods.

Labor-backed Our Oregon released a statement thanking volunteers for gathering signatures and called on more activists to support the campaign.

Initial polling on the measure by Salem-based Action Solutions showed that if voting today, 41 percent would support IP-28 with 23 percent opposed and 35 percent undecided.

Send questions, comments or news tips togfriedman2@statesmanjournal.com or 503-399-6653. Follow on Twitter@GordonRFriedman.

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