Portland Mayor to propose business tax hike

Sources say Charlie Hales is expected to propose a business tax hike to boost the city budget.

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The proposal could increase spending within Hales’ budget by $5 million to $10 million, according to multiple sources briefed on the concept. Hales will release his budget during an uncharacteristically showy press conference scheduled for 10:30 a.m. Monday in front of City Hall.

But it’s not clear if Hales will have political support to move forward. The tax increase could prove controversial and the timing isn’t great.

That’s because Portland is already raking in cash at record levels, according to new financial forecasts. And Portland voters in two weeks will be asked to approve a gas tax to pay for street maintenance and safety projects, raising questions about the viability of two significant taxes at the same time.

(READ MORE: Oregon Live)

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