A fresh round of endorsements has been added to Oregon’s $1,600 rebate, putting the issue in front of voters for a final decision ahead of the November election. This election, Measure 118 will be on the ballot for residents and as per statute, all Oregonians would get a direct payment of $1,600. Tenant rights groups that advocate for affordable housing, PTU and CAT, also supported the rebate. So you must check this to know why Millions of people could get $1,600 direct payments in 2026.
$1,600 Direct Payments for Millions of People in 2026
More than half of all renters in the state reported that they did not have enough money left over after paying their rent to cover basic expenses like food and child care, and almost half of all renters paid more than thirty percent of their income for housing. Although many people’s expenses have been going up, the rebate would pay about one month’s rent for individuals who live in the Portland metropolitan region. If approved, the payment will be given to all residents who have been in Oregon for more than 200 days. That also applies to children. However, the state would need to raise its minimum corporate tax rate by 3% following $25 million in in-state revenue in order to get the $1,600 payments into the hands of Oregonians.
There is no other item on the ballot this November that has garnered as much discussion or funding as Ballot Measure 118. A basic argument to a people suffering from years of rising inflation is made by the proposal, which promises to transfer money that currently flows to major corporations and place it in the hands of Oregonians. The most active political organizations in Oregon and elected politicians say “no.” More than $9 million has been donated by businesses to overturn the law. Opponents of taxing large firms and leftist labor unions are also asking Oregonians to decline the offered money.
What would Measure 118 do?- and Eligibility
- Measure 118 would impose a 3% tax on businesses’ sales in Oregon that exceed $25 million, and the proceeds would be distributed to all 4 million or more Oregonians, regardless of age.
- A person merely needs to reside in Oregon more than 200 days a year to be eligible. Even if a child is born on New Year’s Eve, the rebate is still available to residents who are born or pass away within that year.
- State revenue officials’ study indicates that, despite raising taxes on less than 2% of enterprises, the measure would generate more than $6.5 billion annually. Every Oregonian might then get about $1,600 annually starting in 2026, either directly or through tax credits, according to measure.
- Measure 118’s supporters will frequently bring up that $1,600 estimate in the lead-up to November. In actuality, though, it’s uncertain how much Oregonians would get annually if the legislation passes. This is because Oregonians who get benefits based on economic necessity may be impacted by the proposal. Annual checkups can make it harder or impossible to receive programs like Medicaid or SNAP.
- In order to address that, Measure 118 calls for “hold harmless” payments to reimburse Oregonians for any benefits that were lost. However, no one can predict the size of the portion of the pie that those payments may eventually make up, making it impossible to predict how much would be distributed as rebate checks.
- According to a state Legislative Revenue Office analysis, the rebate amount in 2026 the first year it is issued could be anywhere from $1,035 to $1,286, respectively. The analysis concluded that credits may be anywhere from $1,442 to $1,790 in 2027. However, regardless of how the measure is used, even those figures depend on variables that may change.
- At its most fundamental level, the proposal would establish a universal basic income, a policy that aims to reduce poverty by providing citizens with monthly, unconditional payments. Although the concept is decades old, it only became widely known in 2020 when Democratic presidential contender Andrew Yang made it a central tenet of his campaign. Although some counties and localities have tried basic income policies locally, supporters claim that Measure 118 is the most sweeping plan to have a chance of passing in recent memory.
Who is behind it?
- In 2018, Antonio Gisbert, a former labor organizer and Portland resident, started working on the concept with some pals before filing Measure 118. A similar proposal to tax companies, Measure 97, which would have raised billions for state health and education, had been defeated by voters two years prior. In an attempt to increase corporation taxes, Gisbert and his team chose to give the money to citizens rather than the state.
- Though he failed to gather enough signatures, Gisbert tried to have the concept on the ballot in 2020 and 2022. Additionally, he has been promoting the notion for years at national conferences that supporters of universal basic income have attended.
- There were some wealthy backers of Gisbert this year. Three Californian donors contributed almost $500,000 to fund signature collectors, guaranteeing the measure’s eligibility. One of those donors is Josh Jones, a venture investor from Los Angeles who favors universal basic income and amassed a fortune in bitcoin. Over $650,000 has been invested by him so far. Once Measure 118 was on the ballot, others joined in. In July, Dylan Hirsch-Shell, a former Tesla engineer now running for San Francisco mayor on a platform that includes basic income, heard Gisbert speak at a conference and donated $100,000.
- Although opponents frequently use the rise of Californian funding as a talking point, the opposition has so far raised a significant amount of money. The yes campaign reported raising less than 5 percent of the total amount raised by those who wanted to overturn Measure 118 as of October 1.
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Juniper Leena is a lawyer and finance graduate. She loves to write articles about the USA economy and social security. In her free time, she enjoys playing chess. She is the head of the writing team at Fort Hunt Herald and reports to Niamh Prescott. She also completed her MBA in finance in 2018.