As business owners and community leaders, we know that a strong public education system is critical for businesses to thrive in Oregon. We recognize that the state’s current revenue system is volatile and inadequate, causing year after year of budget uncertainty and missed opportunities for economic growth.
It’s time to chart a new path forward–one that will finally allow Oregon to initiate strong cost-containment and make strategic investments in education that will strengthen our communities, our workforce, and our local and regional economies. We applaud Senator Mark Hass, Speaker Tina Kotek and other legislators for their work to find a balanced, long-term solution that will lower the cost of delivering state services, increase the amount of revenue businesses contribute to our state, and move Oregon in the right direction
Sign the pledge today!
About the Revenue Reform and Education Stability Act
The Revenue Reform and Education Stability Act is a proposal to dedicate hundreds of millions of dollars to our schools by reforming our broken tax code, fulfilling the promises we’ve made to the next generation. By investing in schools, we can finally give Oregon kids the education they deserve. The proposal:
Is the result of months of compromise and collaboration between leaders in the House and Senate, with input from business and labor communities
Raises $890 million for schools and critical services in this budget cycle, scaling up to $1.654 billion in 2023-25. A minimum of 75% of these funds would be dedicated to education, from early learning through college
In order to give businesses time to adjust to a new tax structure, utilizes the existing corporate income tax until 2019, when it will be replaced with a simpler, updated Commercial Activity Tax.
Applies a new Commercial Activity Tax of a fraction of one percent on business sales above $3 million. Businesses with less than $3 million in sales would pay just a flat $250.
Provides hundreds of millions of dollars in tax relief for low- and middle-income households.