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Measure 97: A Mega Tax Measure

Brought to you by Bob Ekblad, of Premier Community Bank


Bob Ekblad, EVP and Chief Operating OfficerThis coming November,

Oregon residents will vote

on a mega tax proposal,

Measure 97, formerly known

as Initiative Petition (IP)

28. In fact, this is one of

the biggest proposed tax

increases in Oregon’s history.

It is estimated to generate

$3.0 billion annually for the

state to spend on education,

health care, and senior

services; at least initially,

but future Legislatures may

choose to allocate these funds

differently.

The new tax would be 2.5%

on the gross Oregon sales for

companies headquartered

or doing business in Oregon

on amounts over $25

million. This tax would be

on gross business revenues,

regardless of a company’s

profitability. And for many

products sold in Oregon, this

new tax may be layered upon

each step of the production

or distribution process;

therefore many items may

be taxed multiple times.

Certainly most of these

companies cannot bear such

a significant tax burden on

their own. So of course, this

tax will be passed onto their

customers, which will get

passed onto their customers,

and ultimately to you and

me as consumers. In fact,

a study by the nonpartisan

Legislative Revenue Office

estimates that ultimately

this tax will cost the average

Oregon household over $600

a year through higher prices

on many of our household

staples. So when November

rolls around, make sure to

give this tax-measure its due

consideration before casting

your vote!

314 E. MAIN STREET

HILLSBORO, OR 97123

503.693.7500

pcboregon.com