Six years after Washington State voters rejected an initiative aiming to raise billions in state revenue by hiking taxes on the wealthy, voters in Oregon may be asked to weigh in on a similar idea. Via the AP:
SALEM, Ore. — A massive $2.8 billion annual corporate-tax hike is likely headed to Oregon voters in November, a move that could create the most aggressive tax climate for big business of any state.
The ballot proposal comes as raising taxes on the wealthy and large corporations is at the forefront of a national debate — especially among Democratic progressives such as Bernie Sanders and much of Oregon’s electorate — about how to close the gaping economic disparities between rich and poor in a post-Great Recession era.
The proposal’s union backers are just one step from getting the measure on the ballot after submitting 130,000 signatures to state elections officials last week. They say it would be a huge boost to cash-strapped public education, health care and senior services.
Naturally, comparisons to "World War III" are being trotted out to describe how the political fight over this ballot measure will unfold.
