Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Education Funding Millionaire Tax topic
No spam. Unsubscribe anytime.
Committee to coordinate with city on proposal to fund 55% of education via tax on million-dollar incomes
Summary
The committee reviewed a proposal to fund a permanent 55% state share of education by taxing incomes above $1 million. Due to fiscal-note complexity and possible municipal downstream effects, the committee voted to coordinate with the City of Portland for additional information and continue tracking the bill.
The Public & Legislative Affairs Committee discussed a proposal that would establish a tax on incomes above $1 million to fund 55% of the state's share of education. Members reviewed the bill summary and fiscal note, which included allocations and varying estimates, and concluded they needed more information before taking a substantive endorsement.
Board member Sautel described the proposal as appealing in principle but said she had not reviewed the fiscal estimates carefully. Superintendent Scallon recommended consultation with municipal staff to understand whether shifting state revenue sources would change taxable income and thereby affect municipal revenues. Members asked staff to contact city partners and legislative contacts to clarify the fiscal note and potential downstream impacts.
Chair Sarah Lentz moved to coordinate with the City of Portland and continue tracking the bill; the motion passed unanimously. Staff were asked to report back with a clearer estimate of statewide revenue effects and any impact on municipal revenue streams before the committee adopts a final position.
