Note: Alaska already has the Permanent Fund Dividend (PFD), a similar UBI-like program funded from revenue derived from invested state petroleum revenues, so Oregon would be the second, not the first U.S. state with such a program if the Oregon Rebate passes in the November 2024 election. The Alaska PFD was started in 1982 to make sure Alaskans directly benefit from its resources in the wake of its oil boom in the 1970s. It has usually been on the order of $1000 – $2000 for each Alaska resident including children.
“A proposed measure to create a universal basic income program which would put $750 in the pocket of every Oregon resident, including children, has officially qualified to be put on the ballot in November.
The initiative, Oregon Rebate, proposes to increase the minimum corporate tax rate for Oregon-based companies making more than $25 million per year in sales to 3 percent tax, whereas the current minimum sits under 1 percent.
The amount raised would then be given to the Oregon’s State Department of Revenue for rebate distribution, which means that every Oregonian—regardless of their age or income—would receive a guaranteed income. Any money left from the rebate would be used to fund services in favor of senior citizens, health care and public education.”
To read the full article in Newsweek by Giulia Carbonaro, click here.
I completely support UBI and increasing the percentage of corporate taxes of those businesses making huge profits in Oregon. The wealth gap is insane especially when measured up to the cost of living in the Pacific NW. The marginalized communities are especially affected the most continuing the vicious cycle of poverty in our Black and Brown communities. Thank you for highlighting this important subject.