Oregon House to vote on $1 billion biz tax to fund schools

SALEM, Ore. (AP) – The Oregon House will vote on a new tax on businesses to raise an additional $1 billion in annual revenue for its public schools.

The Joint Committee on Student Success voted Monday night to send the proposed tax package in House Bill 3427 to the House floor. The move comes only two weeks before teachers across the state are set to protest over a lack of school funding.

The proposed investment package calls for a less than 1% tax on businesses with more than $1 million in sales. State economists estimate less than 10% of all businesses in Oregon would be affected.

Republicans oppose the proposal, saying consumers will face higher prices. The package needs a two-thirds vote for approval.

The money would support schools from preschool to 12th grade and invest in educational and mental health services.