Measure 97 backers float new biz tax idea

PORTLAND, Ore. (AP) — Oregon public employees unions and advocacy groups have unveiled a tax proposal that’s similar to one rejected by voters last month.

The Oregonian/OregonLive reports (http://bit.ly/2gLVAfD ) the plan would generate $5 billion over two years, with most of the new money coming from a 2 percent tax on all corporations’ gross annual sales in Oregon above $100 million.

Voters in November shot down Measure 97, which would have required corporations with at least $25 million in Oregon sales to pay more in tax to help fund education and other services.

Oregon faces a projected $1.7 billion shortfall in the next budget. It’s is largely due to the rising bill for the state’s Medicaid expansion and higher personnel costs, including from public employee pensions.

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Information from: The Oregonian/OregonLive, http://www.oregonlive.com