Even as results continue trickling in, voters’ preferences toward taxes are crystallizing. Although far from uniform, the message appears to be: tax the rich and corporations, but be careful how you do it. This is the message coming from ballot measures around the country, where voters often chose to raise taxes on the income of the rich as a way to protect funding for services families depend on, like education and health care.

Given the significant hole in Oregon’s budget from federal cuts to health care and nutrition assistance, leaders in Oregon should take note.

Washington

Washington voters have shut down an attempt to repeal their new “millionaires tax,” which sets the tax rate on income of more than $1 million to match Oregon’s at 9.9 percent. Current results indicate nearly 60 percent of Washington voters stood by the new tax, which will protect more than $13 billion in education and health care funding. 

Colorado

While it is still too close to call, the “yes” side on Amendment 87 in Colorado is ahead as of this writing. The measure would improve the fairness of the income tax system so people making more than about $500,000 per year would pay more, and people making under that amount would pay less. On net, it is estimated to raise about $2 billion to fund K-12 education and child care programs. 

California

The picture is more complicated in California. On one hand, a temporary income tax increase on high-earners (more than about $700,000 per year) is on track to be made permanent. This measure was estimated to provide nearly $12 billion in just the tax year 2024 to support core public services in California.

However, efforts to enact a first-in-the-nation wealth tax on billionaires appear to be unsuccessful. This novel concept fractured typical coalitions in California, pitting labor unions, progressive community organizations, and Democratic leaders against each other, but catalyzed intense opposition from billionaires, who raised more than $379 million against the proposal.

Warning signs in more conservative states

While there was some pushback on tax cuts in conservative states, such as the rejection of supermajority requirements at the ballot in Utah and property tax restrictions in Oklahoma, there were also problematic tax changes approved in other states. In North Carolina, voters approved a reduction in their personal income tax rate cap from 7 percent down to 3.5 percent, severely limiting the state’s ability to fund programs from the richest households. In Iowa, voters amended the constitution to require two-thirds supermajorities to pass personal and corporate income tax bills, an undemocratic barrier to economic justice.

Oregon

While there were no statewide efforts to tax the rich in Oregon this election, we can see a window into that future in Eugene. Voters overwhelmingly supported a measure that will tax large, profitable corporations to fund investments in clean energy and climate resilience. This stands in stark contrast with Oregonians’ prior rejection of efforts to tax people’s gas and implement payroll taxes, which are much less targeted at the rich and corporations.

Voters recognize the need to raise taxes on those who have captured most of the economic gains. But the way you do it, and the coalition you build, makes a meaningful difference. Oregon needs to learn those lessons.