Voters appear to be rejecting Measure 97, the controversial corporate sales tax measure, according to early vote totals released at 8 p.m.
No votes had 57 percent of the vote, while Yes votes had 42 percent.
The union-backed measure would impose a 2.5 percent “gross receipts” tax on C-corporations’ Oregon sales exceeding $25 million. It would raise $3 billion a year for state coffers.
Proponents of the measure argue the proceeds would give stability to education, health care and senior services and make big corporations pay a fairer share of the state’s tax revenue.
Opponents, backed by many of the corporations that would have to pay the tax, say the tax is unfair because it taxes sales rather than profits and treats different kinds of corporations inequitably.
The campaign over Measure 97 is the most costly for a ballot measure in Oregon history, with both sides raising a combined $42.3 million.