The Student Success Act will create a new tax on businesses that bring in at least $1 million in sales each year. They’d pay $250 and a point-five-seven-percent 0.57% tax. According to the Legislative Revenue Office in the capital, less than 10% of Oregon’s 460,000 businesses would pay the tax.
Oregon’s largest teachers union, the Oregon Education Association, celebrated the passage of the act as a win for students and educators.
“Together, we are making history. Educators and public school families can start to breathe a sigh of relief tonight,” President of Oregon Education Association, John Larson said. “Knowing that instead of worrying about budget cuts, we can instead focus on the educational needs of our students and our future.”
Governor Kate Brown has indicated she will sign the bill into law.