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Controversial Oregon Tax Measure "Moves Goalpost" to May 2023

Controversial Oregon Tax Measure "Moves Goalpost" to May 2023

A highly controversial tax measure in Multnomah County, Oregon has "moved the goalpost" to May 2023 from its original November 2022 target.

The proposed capital gains tax would impose a 0.75% tax on all capital gains to fund a free eviction representation fund for all residents of Multnomah County, which is the most populous of Oregon's 36 counties. 

Notably, the county is home to the city of Portland.  

According to a new report from local news source, Willamette Week:

The ambitious effort, launched this spring by a group of organizations that include the Democratic Socialists of America, must collect 22,686 voter signatures by late November to make it in front of all county voters next May.

Investors who earn capital gains -- profits from assets like stocks, bonds, and real estate -- and the local business community are strongly against the initiative, which received immense backlash from the start. 

The Portland Business Alliance has already challenged the measure in court. Additionally, county authorities, including three county commissioners, are concerned about the tax, which they referred to as "overkill."

Previously, Donovan Scribes, a spokesman for the Community Alliance of Tenants, defended the tax proposal, telling WW, "We see this protection as crucial to keeping people housed. Tenants are under the impression that by the time they receive a court summons, an eviction is inevitable, even when this is not the case."

Lobbyist Jon Isaacs also weighed in with his opinion, stating, "The Portland region is already facing an affordability crisis driven primarily by the cost of housing and taxes."

WW reported that, although proponents of the capital gains tax will not disclose exactly how many signatures they currently have, they stated they are "close" to their goal.

What do you think about the proposed Multnomah County capital gains tax?

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Rebekah Barton

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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