IP 17

Betsy weighs in on IP 17, a measure that Oregon voters will consider in November. Initiative Petition (IP) 17 creates the Oregon Rebate program, which will be funded with a new corporate minimum tax equal to 3 percent of corporate sales above $25 million. The rebate program will distribute the net revenues from the new tax to Oregon residents in equal amounts annually. The new program will be administered by the Oregon Department of Revenue and will have a financial impact of $1.6 million in the 2023-25 biennium and $12.0 billion to $13.6 billion in the 2025-27 biennium.