Several of my Democratic colleagues shared an opinion column with the Statesman Journal last week in which they argued that Oregon should continue forward with the new Corporate Activity Tax. With all due respect to my friends on the other side of the aisle, I could not disagree more.

Already, more than 250,000 Oregonians have lost their jobs. Never in our state’s history have we gone from a roaring economy to state-mandated near-standstill virtually overnight. While I understand the necessity of many of the measures taken to combat the spread of COVID-19, the consequences to our economy have been severe. Just as we have taken action to protect the public health, we must be equally dedicated to protecting Oregonians from further job loss and economic harm.

We can accomplish this is by temporarily suspending the new Corporate Activity Tax. Employers in my community have stated cash flow is by far their biggest challenge. The CAT will only exacerbate cash flow issues. Many businesses will owe this tax even though they are not turning a profit. That’s just wrong, and it’s not going to make it easier for businesses to keep Oregonians employed.

It’s been said that the CAT only applies to large corporations, but that’s not the case. The Legislative Revenue Office previously estimated that 40,000 Oregon businesses will be on hook for the CAT. Those businesses include thousands severely impacted by the coronavirus restrictions. Many restaurants are subject to the tax and will have their first payments due at a time when they have had to close or limit their businesses. Surely, we can agree that these types of businesses could use our support.

Finally, it’s also been said that suspending the CAT would disrupt funding for our schools. It’s important to note, the tax hasn’t been collected yet. Responsible budget adjustments can and should be made in response to the impact of the coronavirus outbreak. Gov. Kate Brown has already announced that she has directed school districts to put a freeze on any new hires that were to be made with funds from this tax. To the extent that education funding could be affected by the suspending the CAT, the state has a constitutionally dedicated Education Stability Fund specifically created to support schools during periods of crisis. We should tap these funds to shore up any deficits in our school system rather than asking businesses struggling to survive to shoulder the burden.

While the federal government has taken action to support employers through the Paycheck Protection Program and other measures, our state government has done comparatively little. I urge Gov. Brown and my colleagues in the Legislature to take bold action to support Oregon employers in their time of need by temporarily suspending the Corporate Activity Tax. Taking this action now will provide critical relief to protect businesses. Let’s work together to get this done.

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