This State Could Get Universal Basic Income

By: Anneken Tappe · June 27, 2024 · Reading Time: 2 minutes

November Vote

Oregon residents can cast their vote in November to establish a universal basic income (UBI) program in their state.

According to a report by The Oregonian , the so-called “Oregon Rebate” has received enough signatures to get on the ballot for a vote in November, pending certification by the Secretary of State’s Office.

If Oregonians vote to approve the proposal, residents would receive $750 annually starting 2025, generated by a 3% corporate tax on businesses with sales in Oregon over $25 million.

What Is Universal Basic Income?

At its core, universal basic income is a type of government spending that provides citizens with income to meet their basic needs. While Oregon could become one of the first U.S. states to approve UBI for its residents, some counties and cities have already experimented with trial programs.

Counties in Texas, California, New York, and Massachusetts, for example, have tested various types of basic income programs. In most cases, recipients used the extra cash to pay down debt, get ahead of bills, or engage in basic entrepreneurship. Finland also tested a basic income approach .

All Eyes on Oregon

In 2020, more than half of U.S. adults (54%) opposed the idea of the federal government providing a guaranteed income, according to a Pew survey . Opposers of the programs argue that free cash payments could make citizens too reliant on the government and disincentivize work. Plus, funding these programs through corporate taxes could also influence where and how companies choose to utilize their resources, potentially incentivizing companies to migrate away from states charging a UBI tax.

If Oregonians pass Initiative Petition 17, the country will watch how this corporate taxation and income program affects its population.

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