Measure 118 is a proposed ballot initiative in Oregon aimed at providing financial relief to small businesses by allowing them to deduct double the amount of their business income from their federal taxes. However, the measure has been met with mixed reactions, with some critics arguing that it could end up being a costly burden instead.
Proponents of Measure 118 argue that it is necessary to help small businesses recover from the economic impacts of the COVID-19 pandemic. By allowing them to deduct double the amount of their income, it would provide much-needed financial relief and help support struggling businesses. They believe that this will ultimately benefit the state’s economy by keeping businesses afloat and preserving jobs.
On the other hand, opponents of the measure have raised concerns about the potential cost to the state. They argue that the measure could result in a significant loss of revenue for the state government, which could impact funding for essential services such as education and healthcare. They also question whether the measure would truly benefit small businesses in the long run, or if it would primarily benefit wealthy business owners.
As Measure 118 makes its way to the ballot, both sides continue to make their case to voters. Small business owners are hopeful that the measure will provide them with much-needed relief, while critics warn of potential unintended consequences. Ultimately, voters will have to weigh the potential benefits and drawbacks of Measure 118 before casting their votes in the upcoming election.
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