City Club of Corvallis conducts forum on the state tax referendum
Where: Boys & Girls Club, 1112 NW Circle Ave.
When: 12 noon, Tuesday, October 11
In November, Oregon voters will turn thumbs up or down on a proposal to create a new source of state revenue, the Oregon Business Tax Initiative, aka Measure 97. If passed, the measure would levy a 2.5 percent tax on corporate sales above $25 million.
The so-called “gross receipts tax” would apply to about 1,000 businesses and raise more than $3 billion a year, according to the Oregon Legislative Revenue Office and the Northwest Economic Research Center at Portland State University. The measure requires those funds to be directed to three purposes: K-12 education, health care and services to senior citizens.
If Measure 97 is approved, corporate taxes would increase from less than five percent of state revenues to about 24 percent.
On October 11, the City Club of Corvallis will discuss the pros and cons of the proposal with representatives from two of the organizations campaigning on the issue and from the Legislative Revenue Office (LRO). Chris Allanach, an economist with the LRO, will describe an analysis of Measure 97’s likely impact on the economy. Representatives of advocates and opponents — Vote Yes on 97 and Defeat 97 — will offer arguments for and against the measure. Ryan Deckert, president of the Oregon Business Association, had been scheduled to speak on behalf of opponents, but Sandra McDonough, president and CEO of the Portland Business Alliance, will represent the Defeat 97 campaign. Otto Schell, legislative director of the Oregon PTA, will present arguments for the Vote Yes on 97 campaign.
Doors will open at 11:30 at the Boys & Girls Club, 1112 NW Circle. The meeting is free and open to the public and will begin at 12 noon and conclude by 1:15. A catered lunch provided by the Old World Deli is $10 for members and $15 for nonmembers. To reserve lunch, send email to info@cityclubofcorvallis.org by Friday, October 7. You can also pay for lunch online with your credit card.