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Podcast: Cascade CounterPoint
Episode: QP: Portland Needs More Than a Small Tax Break
Description: Full-text: Two weeks ago, Portland Mayor Ted Wheeler announced plans to give a 2.6% tax break to businesses threatening to leave Portland. This is a win for businesses and could encourage some to stay. But it may be too little, too late.
Even after the worst of the pandemic, hundreds of businesses moved their headquarters out of Portland. And it’s not just businesses; people are fleeing, too. In 2022, Portland had a net loss of 8,000 people.
Mayor Wheeler finally learned one basic principle: High taxes discourage economic activity.
According to a study from ECONorthwest, Portl...