BUSINESS TAX INCREASE INITIATIVE, MEASURE 97, would increase corporate taxes on businesses with annual incomes that exceed $25 million. Specifically, the measure would establish a minimum $30,000 tax plus 2.5 percent of the revenue that exceeds $25 million. It is estimated that the tax would raise $6 billion over two years, which would drastically increase the size of the Oregon state budget. As the nonpartisan Tax Foundation has noted, since 2000, four states have eliminated their gross receipts tax after realizing the detrimental impact such taxes pose. The Measure constitutes a tax increase on businesses throughout the state, hitting especially hard those businesses with very narrow profit margins, which would increase prices for consumers and make the state less competitive.