Oregon group unveils new corporate tax plan after Measure 97 loss

PORTLAND – 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 reported 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 largely due to the rising bill for the state’s Medicaid expansion and higher personnel costs, including from public employee pensions.