The Oregon Rebate Nears Signature Requirements to Reach 2024 Ballot

FOR IMMEDIATE RELEASE

June 19, 2024 -  The Oregon Rebate (IP-17), an initiative designed to rebate about $750 to every Oregonian every year, is fast approaching the signature requirements necessary to qualify for the November 2024 general election. 

The rebate would go to every Oregon resident living in the state for more than 200 days and includes minors. For example, a family of four would receive about $3,000 every year. 

“Oregon Rebate is a pragmatic solution for Oregonians struggling to keep up with rising living expenses” said Chief Petitioner Antonio Gisbert. The legislation has drawn comparisons to popular independent-leaning policies like The Alaska Permanent Fund Dividend and the extremely popular pandemic-era Child Tax Credit. 

Taxes on giant corporations would fund the Oregon Rebate. The measure would increase the minimum corporate tax rate after $25 million of in-state revenue from the current rate of one tenth of one percent (0.1%) to 3.1%. Similar corporate minimum tax rates are found around the country, including Nevada. This proposed increase would raise at least $3.15 billion annually, which is enough for $750 rebates to all 4.2 million Oregonians every year. 

Unlike most legislation written by partisan figures and special interests, the Oregon Rebate was written by a group of everyday Oregonians who came together in coffee shops in Eugene in 2018. “We brought together an eclectic group of about a dozen politically-engaged ‘outsiders’ ranging from college students to retired folks, from the well-off to the unhoused, and from across the political spectrums to hash out a policy we could all agree on,” said Gisbert. “We asked ourselves what would make our own lives and communities better and the Oregon Rebate was our answer: Let’s get giant corporations starting to pay their fair share in taxes, and put that money in people’s pockets!.”

‍At four pages long, the text of the Oregon Rebate is refreshingly concise, and the program is designed for efficiency. “The state of Oregon already has the infrastructure to tax giant corporations and return cash to residents, so we’ll piggyback on those processes and not make the government any larger,” says Gisbert. The campaign believes most Oregonians will choose to receive the rebate as a tax credit, but there will be other alternatives that are easy and secure to administer and not burdensome to the public. 

$750 for every family member significantly reduces poverty. Calculations from PolicyEngine based on the 2022 Current Population Survey show the Oregon Rebate will decrease childhood poverty in the state by 24% and poverty in the Hispanic/Latinx communities by 23%. “We support the Oregon Rebate because it directly supports farmworkers and working Latinx families in Oregon,” said Reyna Lopez, executive director of PCUN. 

Eligibility for the rebate was designed to be as broad as possible to ensure those who need it most receive it, said Gisbert. “The universal nature of the Oregon Rebate makes it easier for everyone to benefit and was designed to not disrupt other income-based benefits.”

The Oregon Rebate is supported by owners of small businesses as well. “My business has paid more Oregon taxes over the last few years than multinational corporations like Comcast who are making record profits on the backs of everyday Oregonians,” said Crystal Rutland, founder of Particle Design, based in Portland. “We know that Comcast is not going to stop operating in Oregon because they have to pay tax rates similar to those in other states. But more people can cover things like food and rent, which has skyrocketed in Oregon, if we require Comcast to start paying their fair share and give it back to Oregonians via the Rebate.”  Currently, 34% of the largest, most profitable corporations distort their income taxes to pay zero in federal income tax. They do similar manipulations in Oregon to pay the minimum tax of 0.1%, which is among the lowest of any state in the country. 

It is time for giant corporations to pay their fair share and to end the partisan finger-pointing that obstructs effective policy supporting everyday Oregonians. Republicans feel they are paying too much in taxes and want a tax break. Democrats want a stronger social safety net. The Oregon Rebate is both and is quickly approaching the signatures needed to qualify for the general election this November. 

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Press contact: Antonio Gisbert
‍antonio@oregonrebate.org
‍@OregonRebate on Twitter and Instagram