The Measure 118 stimulus payment would offer Oregonians the opportunity to receive a significant amount of financial support to IRS, as part of a plan to help the state’s four million residents cope with the exorbitant costs of living as winter approaches.
The distribution is expected to be in the form of a refundable tax credit or direct cash rebate and would be $1600 per person, up to a family of six, provided it passes the scrutiny and legislative controls in the November vote.
“Measure 118 is a lifeline for Oregon renters facing exorbitant costs,” said Kim McCarty, executive director of Community Alliance of Tenants in a public statement. “This rebate will provide immediate relief in a volatile and often predatory housing market.”
Could the IRS stimulus payment be rejected?
To keep Measure 118 alive, which will affect the city of Portland and other areas, the state will need to increase the minimum corporate tax after $25 million to three percent, a situation that is dividing the population as companies could pass that increase on to customers.
“We’re seeing more and more states experimenting with different rebate structures”, Michael Ryan, a finance expert, told Newsweek. “But Oregon’s proposal is one of the most aggressive.” “It’s part of a broader trend of states trying to address income inequality through direct payments.”