The revenue for the Oregon People’s Rebate comes from modestly increasing of the minimum tax huge corporations (those with over $25 million in sales) pay to a new minimum of 3% (currently, these huge corporations pay a minimum tax of less than 1/8 of 1%, or 0.12%).
The math behind the Oregon People’s Rebate is this:
- The Oregon People’s Rebate is expected to raise at least $3 billion per year
- There are about 4 million people in Oregon (4,093,465)
- Rebating (dividing) $3 billion to (by) 4 million Oregonians is about $750 for every Oregonian