In fact, Oregon residents can get an exciting chance through the Measure 118 stimulus bill, which could give them up to $6,400. The goal of this project is to help the four million people who live in the state deal with the rising cost of living, especially now that winter is coming.
If approved, the money will be given out in the form of either a tax credit that can be refunded or a direct cash rebate. This could mean $1,600 for each person, up to six people in a family. The plan needs to get through legislative checks and be approved in the November vote before it can become a reality.
Aim of This Stimulus-like Payment or Tax Rebate
Over the next three years, the main goal will be to help low- and middle-income households. One of the requirements to be eligible is to have lived in Oregon for at least 200 days. “Help those in need in our state without leaving anyone behind” is the goal.
Executive Director of the Community Alliance of Tenants, Kim McCarty, said that Measure 118 was very important, calling it “a lifeline for Oregon renters facing skyrocketing costs.” She also said that the rebate gives immediate help in a housing market that is becoming more unstable and often predatory.
The difference between having a stable place to live and being homeless for many people is a $1,600 check. A lack of affordable housing units and rents that keep going up make this urgent affordability crisis even worse.
The Growing Need for Assistance
These problems make more people want help programs and good laws like Measure 118, which are meant to help Oregonians control rental prices and keep their homes from becoming unstable.
Why Could Measure 118 Face Rejection?
The state is going to raise the minimum corporate tax on earnings over $25 million to 3% in order to pay for this program, which will affect Portland and the surrounding areas. People are arguing about this idea because businesses might charge customers more for the higher tax.
In an interview with Newsweek, finance expert Michael Ryan said, “We’re seeing more states with different rebate structures.” “However, Oregon’s approach is one of the firmest.”
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