2026-10-08 - Finance & Governance Committee (Whole)

Summary

Based on uploaded (human-made) captions, not auto-generated; minor errors are possible. Captions run from 6:04 to 3:10:23. One recess has no captioned speech and is not counted as discussion: about 11 minutes (1:48:55 to 2:00:02).

Time on topic (from transcript timestamps; approximate, includes side talk):

Topic	Minutes	Share
Business License Tax CEO Pay Ratio Surtax	163	94%
Other business	11	6%

Thursday, October 8, 2026.
Councilor Kanal chaired the Committee of the Whole, called to order at 9:30 a.m. (6:04 on the recording) and adjourned at 12:35 p.m. (3:10:23).
The roll call is partly garbled in the captions, so attendance is not stated here.
After the chair's updates, the single agenda item was the ordinance raising the Business License Tax exemption for small businesses and expanding the CEO pay ratio surtax on large publicly traded companies (called the Fair Share Tax by its sponsors).
More than 40 people signed up to testify and all oral testimony was heard, but no vote was taken and councilors did not deliberate; the committee's next meeting is Thursday, October 15.

Business License Tax CEO Pay Ratio Surtax

16:35-1:48:55, 2:00:02-3:10:23

Item 2, document 2026-348: an ordinance amending Business License Law Code sections 7.02.400 and 7.02.500 to add compensation ratio tiers, raise the CEO pay ratio surtax and raise the gross receipts exemption. Kanal said testimony would keep the usual three minutes with no shortening, but warned the council discussion might have to carry over to the next week.
Opening remarks: primary sponsors Councilor Green and Councilor Morillo, with co-sponsors Councilor Koyama Lane, Councilor Avalos and Council President Dunphy. Green cited two austerity budgets, this year's fiscal crisis declaration, several more lean years ahead and record corporate profits after tax. Morillo cited CEO pay growth since 1978 against typical worker pay, and said the average ratio at the largest firms is roughly 290 to 1. Koyama Lane, Avalos and Dunphy (a former small business owner) stressed relief for about 18,000 small businesses, which Avalos put at about $900 a year each.
Green's presentation: the exemption would rise from $75,000 to $500,000 in gross receipts, exempting an estimated 18,405 small businesses (97.8 percent would see their tax fall to zero) and leaving about $14 million in the local economy. The surtax applies to the 2.6 percent tax on net income of roughly 405 large publicly traded companies that report a CEO pay ratio to federal regulators. It now starts at 100 to 1 (a 10 percent surtax); the proposal starts at 50 to 1 (25 percent) and, from 100 to 1 upward, sets the surtax percentage equal to the ratio, reaching 500 percent at 500 to 1 and above. Green argued firms cannot avoid it by leaving because it follows sales in Portland, and that a company can cut its bill by raising worker pay or lowering CEO pay.
Revenue: a prior-year counterfactual produced about $72 million a year in new revenue; after a risk adjustment by the city economist and the Chief Financial Officer the working figure is about $33 million a year. Green said it pairs with the Business License Tax Stabilization Reserve policy previewed in the work session the day before.
Invited speakers: a co-owner of a Goose Hollow cafe and bookstore who supports the proposal, and Sarah Anderson of the Institute for Policy Studies (online), who said the 2016 surtax has raised about $5 million a year, that San Francisco adopted a pay ratio tax in 2020, and who gave five reasons to expand it, naming companies operating in Portland with 2025 pay ratios far above 500 to 1 (Starbucks, Best Buy, Chipotle, Dollar Tree, McDonald's, Target and Wells Fargo).
Technical questions: Councilor Smith asked if testimony time would be cut (no). Councilor Zimmerman asked about the fiduciary argument and confirmed the first bracket is 25 percent on top of the 2.6 percent rate (3.25 percent), not a 25 percent tax; ratios come from required federal filings. Councilor Novick asked how much the top payers contribute and noted San Francisco's attempt to expand its tax lost at the ballot this year. Chief Financial Officer Biery said litigation is a real risk, he cannot discuss individual taxpayers, and the projected payments are concentrated in a handful of firms (two projected above $5 million a year each, and one taxpayer paid over $20 million last year); the number of workers at the exempted businesses is not known. Zimmerman asked about phasing in the relief, and Green said the ordinance delays the exemption until the year after new revenue starts coming in.
Public testimony: heard in panels of five, in person and online. Most speakers supported the ordinance, including small business owners and accountants, representatives of the city's professional workers union (whose president said the union opened a strike authorization vote that day), a laborers union local, the Oregon Black Worker Center, Portland Jobs with Justice, a housing coalition, a music advocacy group and a neighborhood business alliance. Some asked that part of the new revenue go to affordable housing, transit and infrastructure, and one suggested a small business tax credit instead.
A handful of speakers opposed or hedged: that it belongs at the federal level and could chill employers who compete for workers; that companies will pass the cost on (one estimate was about $500 a year for a family of four); and that the city should first audit spending, cut underperforming programs, streamline permitting and offer business tax credits. A late testifier also repudiated an inappropriate comment made about Novick during testimony.
Close: Green offered co-sponsorship to any colleague before next week. No vote was taken.

Other business

6:04-16:35

Roll call (partly garbled), conduct statement and agenda order.
Item 1, committee chair updates: Kanal said next week's meeting takes up the fall technical adjustment items: the supplemental budget ordinance (FY 2026-27 Fall Supplemental Budget), the business license tax reserve policy and the budget calendar (FY 2027-28 Budget Calendar). A presentation on the street renaming code (Chapter 17.93) is on the agenda but may not be reached. Appointments are set for October 21 with the Home Forward board first (Home Forward Board of Commissioners Appointments), and the rest are bundled for November 18. A span of control and management oversight hearing is set for December 16 and may move to December 10 depending on the auditor's report; unscheduled items are likely January or later.
Avalos gave a quarterly update on the Housing & Permitting Committee: oversight of shelter operations and regional housing policy, foreclosure actions and single-stair building design, a data center transparency resolution, the relocation assistance policy and renter testimony. This week's first briefing on the Climate and Health Standards for Buildings Code will return at the next committee meeting for testimony, and Unified Housing Strategy community events start Tuesday, October 13 at 6 p.m. at the Rosewood Initiative in District 1, with events in the other districts over two weeks.

Agenda

Committee chair updates; ordinance amending Business License Law Code (new compensation ratios, CEO Pay Ratio Surtax and gross receipts exemption).

Sources

Video

Watch the video

Transcript

These are uploaded (human-made) English captions; minor errors are possible.

Transcript

06:04>> GOOD MORNING. I CALL THIS

06:06MEETING OF THE PORTLAND CITY

06:08COUNCIL COMMITTEE OF THE WHOLE

06:09TO ORDER. IT IS WEDNESDAY,

06:11OCTOBER 8TH, 2026 AT 9:30 A.M.

06:15REBECCA, WILL YOU PLEASE CALL

06:16THE ROLL?

06:17>> GOOD MORNING. CLERK HERE,

06:21GREEN HERE. ZIMMERMAN.

06:24>> AVALOS PRESENT.

06:26>> DUNPHY HERE.

06:27>> SMITH HERE. PIRTLE-GUINEY.

06:31BRIAN KOYAMA LANE MORILLO HERE.

06:36>> NOVICK HERE.

06:37>> KANAL HERE. CHRISTOPHER,

06:40WILL YOU PLEASE READ THE

06:40STATEMENT OF CONDUCT?

06:42>> WELCOME TO THE MEETING OF

06:43THE FINANCE AND GOVERNANCE

06:44COMMITTEE OF THE WHOLE. TO

06:45TESTIFY BEFORE THIS COMMITTEE

06:46IN PERSON OR VIRTUALLY. YOU

06:47MUST SIGN UP IN ADVANCE IN THE

06:49COMMITTEE AGENDA AT

06:54WWW.PORTLAND.GOV/AGENDA/COMMITTE

06:55OR BY CALLING 311. INFORMATION

06:56ON ENGAGING WITH THE COMMITTEE

06:57CAN BE FOUND AT THIS LINK.

06:58REGISTRATION FOR VIRTUAL

06:59TESTIMONY CLOSES ONE HOUR PRIOR

07:01TO THE MEETING IN PERSON,

07:02TESTIFIERS MUST SIGN UP BEFORE

07:03THE AGENDA ITEM IS HEARD.

07:04PUBLIC TESTIMONY WILL BE TAKEN

07:06ON AN ITEM. INDIVIDUALS MAY

07:07TESTIFY FOR THREE MINUTES

07:08UNLESS THE CHAIR STATES

07:09OTHERWISE, YOUR MICROPHONE WILL

07:10BE MUTED. WHEN YOUR TIME IS

07:11OVER, THE CHAIR PRESERVES ORDER

07:13DISRUPTIVE CONDUCT SUCH AS

07:14SHOUTING, REFUSING TO CONCLUDE

07:15YOUR TESTIMONY WHEN YOUR TIME

07:16IS UP, OR INTERRUPTING OTHERS

07:17TESTIMONY OR COMMITTEE

07:18DELIBERATIONS WILL NOT BE

07:19ALLOWED. IF YOU CAUSE A

07:20DISRUPTION, A WARNING WILL BE

07:21GIVEN. FURTHER DISRUPTION WILL

07:23RESULT IN EJECTION FROM THE

07:24MEETING. ANYONE WHO FAILS TO

07:25LEAVE ONCE EJECTED IS SUBJECT

07:26TO ARREST FOR TRESPASS.

07:27ADDITIONALLY, THE COMMITTEE MAY

07:28TAKE A SHORT RECESS AND

07:29RECONVENE VIRTUALLY. YOUR

07:30TESTIMONY SHOULD ADDRESS THE

07:31MATTER BEING CONSIDERED WHEN

07:32TESTIFYING. STATE YOUR NAME FOR

07:33THE RECORD. IF YOU'RE A

07:35LOBBYIST, IDENTIFY THE

07:35ORGANIZATION YOU'RE

07:36REPRESENTING AND VIRTUAL

07:37TESTIFIER SHOULD UNMUTE

07:38THEMSELVES WHEN THE CLERK CALLS

07:39YOUR NAME. THANK YOU.

07:41>> THANK YOU.

07:42>> BOTH COLLEAGUES TODAY AT THE

07:44COMMITTEE OF THE WHOLE, WE HAVE

07:45A CHAIR'S UPDATE AS PER USUAL,

07:46AND THEN WE HAVE A SINGLE ITEM

07:48ON THE AGENDA, WHICH IS THE

07:50AMENDED BUSINESS LICENSE LAW

07:51CODE TO INCLUDE NEW

07:52COMPENSATION RATIOS AND

07:53INCREASE THE CEO PAY RATIO,

07:55SURTAX AND GROSS RECEIPTS

07:56EXEMPTION AMOUNT. AMEND CODE

07:57SECTION 702 405 HUNDRED. WE

08:00HAVE NOW GOTTEN TO OVER 40

08:02FOLKS SIGNED UP TO TESTIFY. I

08:04BELIEVE THAT STILL MEANS WE'LL

08:05HAVE ENOUGH TIME TO HEAR

08:07EVERYBODY WITHOUT SHORTENING AT

08:09ALL. BUT THAT DOES MEAN THAT

08:10DEPENDING ON THE WAY THAT THE

08:12CONVERSATION GOES WITH CITY

08:13COUNCIL OR COMMITTEE OF THE

08:14WHOLE TODAY, WE MAY NOT FINISH

08:16THIS ITEM TODAY, AND WE MAY

08:17HAVE TO CARRY IT OVER TO NEXT

08:19WEEK, BUT WE THAT'S THE COUNCIL

08:21PART OF IT. THE TESTIMONY WILL

08:22STILL BE TODAY. SO I JUST

08:24WANTED TO FLAG THAT SO THAT

08:25PEOPLE ARE AWARE. ALL RIGHT.

08:29REBECCA, COULD YOU PLEASE CALL

08:30ITEM ONE.

08:31>> ITEM ONE COMMITTEE CHAIR

08:33UPDATES.

08:34>> ALL RIGHT.

08:35>> WELL, WE HAVE A CHAIR'S

08:36UPDATE TODAY AS PER USUAL. AND

08:39EVERYBODY'S GOT A COPY. AND

08:41IT'S ALSO GETTING POSTED. IF

08:42IT'S NOT ONLINE NEXT WEEK IS

08:43THE THE FALL TOWEL. AND AS WE

08:46HEARD YESTERDAY IN THE WORK

08:47SESSION, WE HAVE SPLIT THAT

08:51INTO WELL, THERE ARE THREE

08:52LEGISLATIVE ITEMS RELATED TO

08:54THAT. THE TAO, THE TECHNICAL

08:56ADJUSTMENT ORDINANCE ITSELF,

08:57THE BUSINESS LICENSE TAX POLICY

08:59THAT WAS PREVIEWED YESTERDAY,

09:00AND THEN THE BUDGET CALENDAR

09:01THAT WAS ALSO PREVIEWED

09:02YESTERDAY, ALTHOUGH IT SAYS

09:03CONFIRMED THAT WE ARE DOING

09:05THAT BROADER CONVERSATION ON

09:07STREET RENAMING CODE 17.93,

09:09WHICH IS THE SYSTEM BY WHICH WE

09:11RENAME STREET RENAMING, THAT

09:12MAY NOT HAVE ENOUGH TIME TO

09:14ACTUALLY BE HEARD. IT'S

09:15CONFIRMED FOR BEING ON THE

09:16AGENDA. THE OTHER THINGS THAT I

09:19THINK MAY BE OF INTEREST TO

09:20FOLKS, WE HAVE A BUNCH OF

09:22APPOINTMENTS ON OCTOBER 21ST

09:23WITH THE HOME FORWARD BOARD

09:24BEING FIRST ON THAT LIST, AND

09:26THEN THE REST OF THE

09:27APPOINTMENTS HAVE NOW BEEN

09:28BUNDLED ON NOVEMBER 18TH. THE

09:31LAST THING THAT I THINK WAS NOT

09:33CONFIRMED LAST WEEK IS A SPAN

09:34OF CONTROL AND MANAGEMENT

09:36OVERSIGHT HEARING THAT'S

09:37CURRENTLY ON DECEMBER 16TH.

09:39DEPENDING ON WHEN THE AUDITOR'S

09:40REPORT IS READY, IT MIGHT GET

09:42MOVED TO DECEMBER 10TH. THOSE

09:43TWO ARE FUNGIBLE. EVERYTHING ON

09:45THE SECOND PAGE OF UNSCHEDULED

09:47ITEMS IS PROBABLY JANUARY AND

09:48BEYOND AT THIS POINT, BUT I AM.

09:50IF SOMETHING GETS FILED, WE'LL

09:51DO OUR BEST AND EVERYTHING ELSE

09:54YOU'VE PRETTY MUCH SEEN BEFORE

09:55BUT IS ON RECORD, SO I WILL. I

09:59WILL NOT BELABOR THAT POINT.

10:01ANY QUESTIONS ON THIS BEFORE I

10:02GO TO CHAIR AVALOS FOR HER

10:04UPDATE ON THE HOUSING AND

10:05PERMITTING COMMITTEE? ALL RIGHT.

10:08I'LL PASS IT OVER TO CHAIR

10:10AVALOS.

10:12>> THANK YOU, CHAIR KANAL. SO,

10:15YEAH, I AM EXCITED TO GIVE YOU

10:17JUST A BRIEF UPDATE ON THE LAST

10:19QUARTER OF WHAT WE HAVE BEEN UP

10:21TO. WE'VE COVERED A PRETTY WIDE

10:23RANGE OF ISSUES OVER THE LAST

10:24SEVERAL MONTHS, FROM THINGS

10:25LIKE HOUSING PRODUCTION AND

10:27TENANT STABILITY TO PERMITTING

10:29HOMELESSNESS OVERSIGHT AND LONG

10:31TERM HOUSING STRATEGY. SO IN

10:34JULY, WE RECEIVED AN ANNUAL

10:35REPORT ON NORTH AND NORTHEAST

10:37NEIGHBORHOOD HOUSING STRATEGY

10:39AND HAD A SUBSTANTIVE

10:40CONVERSATION ABOUT DISPLACEMENT,

10:42AFFORDABILITY, HOMEOWNERSHIP,

10:43AND WHETHER THOSE INVESTMENTS

10:44ARE REACHING THE BLACK

10:45PORTLANDERS THEY WERE

10:46ORIGINALLY INTENDED TO SERVE.

10:48WE ALSO HELD A 90 MINUTE PUBLIC

10:50OVERSIGHT DISCUSSION WITH

10:51PORTLAND SOLUTIONS AND URBAN

10:52ALCHEMY IN RESPONSE TO CONCERNS

10:53THAT HAD BEEN RAISED ABOUT

10:55SHELTER OPERATIONS. THAT

10:56CONVERSATION IS ONGOING. THE

10:59GOAL THERE WAS TO BETTER

11:00UNDERSTAND HOW COMPLAINTS ARE

11:01INVESTIGATED, WHAT

11:02ACCOUNTABILITY TOOLS THE CITY

11:03HAS, AND WHAT CHANGES HAVE BEEN

11:04MADE. IN RESPONSE, WE ALSO

11:06INVITED METRO COUNCIL PRESIDENT

11:07JUAN CARLOS GONZALEZ TO

11:09COMMITTEE FOR A BROADER

11:10CONVERSATION ABOUT THE FUTURE

11:12OF REGIONAL HOUSING AND

11:12HOMELESSNESS POLICY. I THOUGHT

11:14THAT WAS A REALLY GOOD

11:16OPPORTUNITY FOR US TO STEP

11:17OUTSIDE OF INDIVIDUAL CITY

11:18PROGRAMS AND TALK ABOUT HOW

11:20PORTLAND METRO, THE COUNTY AND

11:21THE STATE CAN BETTER ALIGN ON

11:23OUR WORK AND REBUILD PUBLIC

11:25TRUST AROUND MAJOR HOUSING

11:26INVESTMENTS. AND THE COMMITTEE

11:28ALSO PROACTIVELY SENT FEEDBACK

11:29TO THE PLANNING COMMISSION AS

11:30IT WORKED ON HOUSING RELATED

11:32ZONING CHANGES. IN AUGUST, WE

11:34WORKED THROUGH A PACKAGE OF

11:36CITY FORECLOSURE ACTIONS

11:38ADVANCING NEW FEDERAL SECTION

11:39ONE 108 HOUSING FINANCING TOOL,

11:43AND INVITED HOUSING AND DESIGN

11:44EXPERTS TO TALK WITH US ABOUT

11:45SINGLE STAIR BUILDINGS AND WHAT

11:47CHANGES TO BUILDING CODES,

11:48ZONING AND PERMITTING MIGHT

11:49UNLOCK ADDITIONAL MIDRISE

11:51HOUSING ON SMALLER SITES. AND

11:53THAT IS PART OF SOMETHING I

11:54WANT THIS COMMITTEE TO KEEP

11:55DOING, NOT JUST MOVING

11:57LEGISLATION, BUT BRINGING

11:57EXPERTS INTO THE ROOM TO HELP

11:59US UNDERSTAND IDEAS THAT MAY

12:00SHAPE FUTURE POLICY. IN

12:03SEPTEMBER, WE HEARD THE DATA

12:04CENTER TRANSPARENCY RESOLUTION

12:05FROM COUNCILORS KOYAMA LANE AND

12:08GREEN AND I, INCLUDING

12:10TESTIMONY AND EXPERT

12:11PERSPECTIVES, I GUESS, AND

12:12EVERYBODY, BECAUSE EVERYBODY'S

12:13A CO-SPONSOR NOW AND EXPERT

12:14PERSPECTIVES ON THE

12:15INFRASTRUCTURE, ENERGY, WATER

12:16AND PUBLIC PROCESS. QUESTIONS

12:18RAISED BY LARGE DATA CENTERS.

12:19WE ALSO BROUGHT THE CITY'S

12:20MANDATORY RELOCATION ASSISTANCE

12:22POLICY BACK TO COMMITTEE TO

12:23LOOK AT HOW IT IS FUNCTIONING

12:25TODAY, HOW IT CHANGES IN STATE

12:26LAW HAVE AFFECTED IT, AND

12:28WHETHER OUR TENANT PROTECTION

12:29TOOLS ARE STILL ACCOMPLISHING

12:30WHAT COUNCIL ORIGINALLY

12:31INTENDED. WE FOLLOWED THAT

12:33DISCUSSION BY HEARING DIRECTLY

12:34FROM PORTLAND RENTERS ABOUT THE

12:35ISSUES THEY BELIEVE THIS

12:36COMMITTEE SHOULD BE PAYING

12:37ATTENTION TO. AND THEN JUST

12:39THIS WEEK, WE HAD OUR FIRST

12:41MAJOR COMMITTEE BRIEFING ON THE

12:42CLIMATE AND HEALTH STANDARDS

12:43FOR EXISTING BUILDINGS PROPOSAL,

12:45ALONG WITH LAND USE CODE

12:46CHANGES REQUIRED BY RECENTLY

12:47ADOPTED STATE LAW AND CHANGES

12:49NECESSARY TO CONTINUE THE

12:50CITY'S PROPERTY TAX EXEMPTION

12:52FOR LOW INCOME HOUSING. THOSE

12:54WERE REFERRED OUT OF COMMITTEE.

12:55SO WE'LL HEAR THOSE AT COUNCIL

12:56SOON, AND I SUSPECT THERE MIGHT

12:58BE SOME FURTHER CONVERSATION

12:58WE'LL HAVE AT COUNCIL. THE

13:00CLIMATE AND HEALTH STANDARDS

13:01WILL RETURN AT OUR NEXT MEETING

13:03FOR PUBLIC TESTIMONY AND

13:04COMMITTEE DISCUSSION. AND THEN

13:07AS FAR AS THE BIGGEST BODY OF

13:08WORK I WANT TO UPDATE COUNCIL

13:10ON IS THE UNIFIED HOUSING

13:11STRATEGY AND GIVE YOU AN UPDATE

13:13ON THAT AS THAT CONTINUES TO

13:14MOVE. SO, AS YOU KNOW, WHEN

13:15COUNCIL ADOPTED US LAST YEAR,

13:17THE PURPOSE WAS TO STOP

13:18TREATING PORTLAND'S HOUSING

13:19WORK AS A COLLECTION OF

13:20DISCONNECTED PROGRAMS AND START

13:21BUILDING ONE COHERENT ROADMAP.

13:23AND SO THAT MEANS LOOKING

13:24ACROSS PRODUCTION, PRESERVATION,

13:26TENANT STABILITY, HOMEOWNERSHIP,

13:28SOCIAL AND NON-MARKET HOUSING

13:30FUNDING, INFRASTRUCTURE AND

13:31PERMITTING, AND THEN ACTUALLY

13:33MAKING CHOICES ABOUT WHAT WE

13:35PRIORITIZE, HOW WE MEASURE

13:36SUCCESS AND WHERE THE CITY

13:37SHOULD LEAD VERSUS WHERE WE

13:38NEED PARTNERS. SO OVER THE

13:40SUMMER AND EARLY FALL, WE

13:41COMPLETED A SERIES OF DEEPER

13:42WORKING SESSIONS WITH

13:44PRACTITIONERS AND SUBJECT

13:44MATTER EXPERTS. THOSE

13:46CONVERSATIONS FOCUSED ON

13:48PRESERVATION, PRODUCTION, LONG

13:49TERM FUNDING AND INNOVATION,

13:50INCLUDING THE RECOMMENDATIONS

13:52COMING OUT OF THE SOCIAL

13:53HOUSING STUDY. PARTICIPANTS

13:54WERE ASKED NOT JUST WHAT THEY

13:56SUPPORT, BUT WHAT SHOULD RISE

13:57TO THE TOP, WHAT BARRIERS EXIST

14:00TO IMPLEMENTATION, AND WHAT

14:01PARTNERSHIPS WOULD ACTUALLY BE

14:02NECESSARY TO GET THE WORK DONE.

14:03AND SO NOW THAT THE EXPERT

14:05PHASE HAS BEEN INCREDIBLY

14:07USEFUL, WE'RE ALREADY SEEING

14:08SOME CLEAR THROUGH LINES AROUND

14:10STABILIZING THE AFFORDABLE

14:11HOUSING. WE ALREADY HAVE

14:12STRATEGIC ACQUISITION OF LAND

14:13AND BUILDINGS, GROWING

14:15COOPERATIVE AND COMMUNITY

14:16OWNERSHIP, CREATING MORE

14:17SUSTAINABLE HOUSING FUNDING,

14:19REDUCING INFRASTRUCTURE AND

14:20PERMITTING BARRIERS, AND THEN

14:21MAKING SURE THAT THE DIFFERENT

14:23LEVELS OF GOVERNMENT ARE

14:24ACTUALLY PULLING IN THE SAME

14:25DIRECTION. SO NOW WE'RE MOVING

14:26INTO THE NEXT PHASE, WHICH IS

14:28BROADER COMMUNITY ENGAGEMENT.

14:29AND OUR FIRST DISTRICT BASED

14:30COMMUNITY EVENT IS NEXT TUESDAY,

14:33OCTOBER 13TH AT 6 P.M. IN

14:35DISTRICT ONE AT THE ROSEWOOD

14:37INITIATIVE. AND THERE WILL BE

14:39OPPORTUNITIES ACROSS THE CITY

14:40FOR PORTLANDERS TO PARTICIPATE.

14:43IF YOU GOOGLE UNIFIED HOUSING

14:45STRATEGY, YOU'LL FIND A PAGE

14:46THAT FB IS HOSTING AND YOU'LL

14:47SEE ALL OF THE DISTRICT EVENTS.

14:49THEY'RE ALL HAPPENING WITHIN

14:50THE NEXT TWO WEEKS. SO WE'LL BE

14:52IN DISTRICT ONE, TWO, THREE,

14:53AND FOUR, I THINK IN THAT ORDER

14:55OR ONE, THREE, TWO, AND FOUR.

14:57AND SO THESE CONVERSATIONS HAVE

14:58A DIFFERENT PURPOSE THAN THE

15:00EXPERT SESSIONS. PRACTITIONERS

15:01CAN HELP US UNDERSTAND

15:02IMPLEMENTATION AND FEASIBILITY.

15:03BUT THE BROADER COMMUNITY NEEDS

15:05TO TELL US WHAT MATTERS MOST IN

15:06THEIR LIVES AND WHAT HOUSING

15:07STABILITY ACTUALLY MEANS TO

15:09THEM, AND WHERE THEY THINK THAT

15:10THE CITY SHOULD PRIORITIZE

15:11LIMITED RESOURCES AND TO TELL

15:14US WHAT THEY THINK WE'RE

15:15MISSING. AND I'LL END WITH ONE

15:17FRAMING THAT FROM FB THAT I

15:19THINK IS PARTICULARLY USEFUL IN

15:21HOW ALL OF THIS WORK CONNECTS.

15:23THE SOCIAL HOUSING STUDY HAS

15:25GIVEN US LOTS OF TOOLS AND

15:27IDEAS THAT KEEP. PORTLAND HOUSE

15:28ORDINANCE THAT WE PASSED A FEW

15:29MONTHS AGO HAS PUT REAL

15:31INVESTMENT AND ACTION BEHIND

15:32HOUSING STABILITY AND

15:33PRESERVATION AND ACQUISITION

15:34AND HOMELESSNESS PREVENTION.

15:36AND NOW THE UNIFIED HOUSING

15:38STRATEGY IS THE ROADMAP THAT

15:39CONNECTS THOSE EFFORTS AND

15:40GIVES US A LONG TERM DIRECTION.

15:42SO THAT IS ULTIMATELY WHAT I

15:43WANT US TO BECOME, NOT ANOTHER

15:45REPORT THAT SITS ON A SHELF,

15:46BUT THE FRAMEWORK THAT COUNCIL

15:47CAN USE WHEN WE MAKE HOUSING

15:49POLICY, BUDGET, LAND USE AND

15:50INVESTMENT DECISION DECISIONS

15:51OVER THE COMING YEARS. SO THERE

15:53IS STILL A LOT OF WORK AHEAD,

15:55AND THE STRATEGY IS GOING TO

15:56COME BACK TO COUNCIL AS IT

15:58DEVELOPS. BUT I'M REALLY

15:59ENCOURAGED BY HOW MUCH

16:00SUBSTANCE WE HAVE BUILT OVER

16:01THE LAST SEVERAL MONTHS, AND

16:02I'M EXCITED THAT WE'RE NOW

16:04OPENING THE CONVERSATION UP

16:05BROADLY TO MORE PORTLANDERS. SO

16:06THANK YOU, VICE CHAIR GREEN.

16:08ALL THE COMMITTEE MEMBERS, FB

16:10AND THE SERVICE AREA THAT DOES

16:12A LOT OF WORK WITH US, AND JUST

16:14EVERYONE WHO HAS SPENT TIME

16:15HELPING US BUILD THIS WORK.

16:16THAT IS MY REPORT FOR NOW AND

16:18HAPPY TO TAKE QUESTIONS.

16:19>> THANK YOU. CHAIR AVALOS. IF

16:20ANY COLLEAGUES WOULD LIKE TO

16:22GET IN THE QUEUE AND ASK CHAIR

16:23AVALOS A QUESTION, NOW'S THE

16:25CHANCE. SEEING NONE, THAT WILL

16:27CONCLUDE THE CHAIR'S UPDATE FOR

16:28THIS WEEK. THANK YOU. AND

16:31REBECCA, COULD YOU PLEASE CALL

16:32ITEM TWO?

16:35>> ITEM TWO AMEND BUSINESS

16:37LICENSE LAW CODE TO INCLUDE NEW

16:39COMPENSATION RATIOS AND

16:40INCREASE THE CEO PAY RATIO.

16:42SURTAX IN GROSS RECEIPTS

16:44EXEMPTION AMOUNT. AMEND CODE

16:46SECTIONS 7.0, 2.400 AND

16:527.02.500. DOCUMENT NUMBER

16:542026-348.

16:55>> THANK YOU VERY MUCH. I'M

16:57GOING TO JUST PASS THIS OVER TO

16:59START WITH THE TWO PRIMARY

17:01SPONSORS, COUNSELORS GREENE AND

17:03MORILLO. AND THEN WE'LL HEAR

17:04FROM THE OTHER CO-SPONSORS AND

17:05MOVE INTO THE PRESENTATION. SO

17:08WITH THAT, I'M NOT SURE WHO

17:09WOULD LIKE TO GO FIRST, BUT

17:10COUNCILORS GREENE AND MORILLO

17:12TAKE IT AWAY.

17:12>> I'LL KICK US OFF HERE. THANK

17:14YOU, CHAIR KANAL. WE'VE GOT A

17:16LOT OF FOLKS SIGNED UP FOR

17:18TESTIMONY. WE'VE GOT A FORMAL

17:19PRESENTATION, SO I'LL KEEP MY

17:21MY OPENING REMARKS FAIRLY BRIEF.

17:23I JUST WANT TO PROVIDE SOME

17:24FRAMING STATEMENTS, AND I'LL

17:26HAND IT OVER TO COUNCILOR,

17:27MORILLO AND THE REST OF THE

17:28CO-SPONSORS. BUT I JUST WANT TO

17:30SAY THAT IN THE IN THE TWO

17:32YEARS TO 20 MONTHS I'VE BEEN IN

17:34OFFICE, WE'VE HAD TWO AUSTERITY

17:35BUDGETS. WE'VE HAD A

17:38DECLARATION OF OF FISCAL CRISIS

17:40AT THE BEGINNING OF THIS

17:41CALENDAR YEAR. AND THAT'S NOT

17:43GOING TO GET MUCH EASIER FOR

17:45THE NEXT 3 TO 5 YEARS. WE'RE

17:47GOING TO HAVE A CUTS BUDGET FOR

17:49THE NEXT 3 TO 5 YEARS. AND SO I

17:51THINK AS EARLY AS FEBRUARY, MY

17:53OFFICE STARTED ASKING AND

17:54REACHING OUT TO THE REVENUE

17:57DEPARTMENT, THE CFO'S OFFICE,

17:59TO ASK WHAT WOULD CHANGING THE

18:01PAY RATIO SURTAX LOOK LIKE FOR

18:03OUR OUR REVENUE OVER TIME? AND

18:07THAT'S IN THE CONTEXT OF IF YOU

18:09LOOK AT THE DATA, IF YOU MAKE

18:11YOUR DECISIONS BASED UPON

18:12EVIDENCE, THE BUREAU OF

18:13ECONOMIC ANALYSIS PUBLISHES

18:16CORPORATE PROFITS AFTER TAX

18:19NUMBERS ON A QUARTERLY BASIS,

18:20AND THE Q2 2026 NUMBERS SHOW

18:23THAT CORPORATE PROFITS AFTER

18:26TAX AS A SHARE OF GDP IS THE

18:29HIGHEST ON RECORD GOING BACK TO

18:321947. SO I'M GOING TO SAY THAT

18:34AGAIN. LARGE CORPORATIONS HAVE

18:37NEVER BEEN MORE PROFITABLE,

18:39EVEN AFTER TAXES IN THE UNITED

18:41STATES OF AMERICA THAN THEY ARE

18:42RIGHT NOW. AND THE OTHER SIDE

18:45OF THE COIN, ONE MIGHT ARGUE,

18:47WELL, HOW ARE THEY SO

18:48PROFITABLE? WELL, WAGES ARE THE

18:49LOWEST ON RECORD. OKAY. THERE'S

18:50A THERE'S A DISTRIBUTION

18:52BETWEEN PROFITS AND WAGES. AND

18:52SO THOSE ARE THE STAKES. AND,

18:55YOU KNOW, THE CITY OF PORTLAND

18:57OBVIOUSLY CANNOT DETERMINE SORT

18:59OF FEDERAL LEVEL POLICY. BUT WE

19:01ARE EMBEDDED IN IT. WE ARE

19:04WE'RE CONDITIONED BY THE

19:06CONSEQUENCES OF OUR OF FEDERAL

19:08GOVERNMENT'S FAILURE TO TAX

19:09THESE CORPORATIONS

19:10APPROPRIATELY. AND SO WE MUST

19:12LEAD. AND WE MUST ASK THE

19:13QUESTION OF ARE WE GOING TO

19:14CONTINUE TO JUST EXIST WITHIN

19:16THAT WORLD, OR ARE WE GOING TO

19:18TRY TO CHANGE IT A LITTLE BIT?

19:21IT'S NOT DIRECTLY WITHIN OUR

19:22BUDGET SCOPE. BUT, YOU KNOW,

19:23PORTLAND PUBLIC SCHOOLS IS

19:25CLOSING 14 SCHOOLS. PARENTS ARE

19:28UPSET, AND THEY DON'T

19:30UNDERSTAND WHY IT IS THAT IN A

19:33COUNTRY WHERE CORPORATIONS HAVE

19:34NEVER BEEN MORE PROFITABLE,

19:36THEIR LOCAL LEADERS ARE SAYING

19:37THERE'S SIMPLY NOTHING WE CAN

19:39DO ABOUT THIS. AND SO THIS

19:41MEASURE, WHILE IT DOESN'T SOLVE

19:42ALL THE PROBLEMS, IS, IS, IS AN

19:44ATTEMPT TO ADDRESS THAT PROBLEM

19:45HEAD ON. AND, YOU KNOW, WE'RE

19:48GOING TO GET INTO THE

19:49PARTICULARS OF IT AS WE GET

19:50INTO THE PRESENTATION. BUT AT

19:52THIS MOMENT, I'D LIKE TO PASS

19:53IT OVER TO COUNCILOR MORILLO,

19:54WHO IS MY CHIEF CO-SPONSOR ON

19:56THIS. THANK YOU.

19:57>> THANK YOU, COUNCILOR GREEN.

19:59I KIND OF WANT TO SET THE STAGE

20:01FOR THE CONVERSATION HERE,

20:03BECAUSE WHEN I'VE BEEN TALKING

20:04WITH PEOPLE, I THINK THAT IT IS

20:06INCREDIBLY DIFFICULT FOR US TO

20:08IMAGINE SUCH LARGE NUMBERS AND

20:10TO IMAGINE WHAT IT MEANS FOR

20:12SOMEONE TO BE A BILLIONAIRE OR

20:13A TRILLIONAIRE. WHEN WE'RE

20:14HAVING THESE CONVERSATIONS, IT

20:16IS SOMETHING THAT IS SO

20:18UNFATHOMABLE TO MOST OF US WHO

20:19HAVE HAD TO WORK EVERY DAY THAT

20:21WE CAN'T EVEN PICTURE WHAT THAT

20:23ACTUALLY MEANS TANGIBLY. SO IN

20:261978, STARTUPS AS A PERCENTAGE

20:28OF PORTLAND AREA BUSINESSES

20:30HAVE FALLEN BY NEARLY HALF OVER

20:33THAT SAME PERIOD. CEO PAY AT

20:35THE LARGEST U.S. CORPORATIONS

20:38EXPLODED BY 1,094%, WHILE A

20:42TYPICAL WORKERS PAY GREW ONLY

20:4426%. AND IF YOU WANT TO CHECK

20:46MY MATH, YOU CAN LOOK AT THE

20:47ECONOMIC POLICY INSTITUTE.

20:48THAT'S WHERE THAT CAME FROM.

20:52YOU'RE GOING TO HEAR THIS

20:53FIGURE A LOT TODAY. BUT IN THE

20:571970S, CEOS OF SUCCESSFUL U.S.

20:59CORPORATIONS MADE ROUGHLY 20 TO

21:0130 TIMES MORE THAN THEIR

21:02WORKERS. TODAY, CEOS AT THE

21:05LARGEST 350 U.S. PUBLICLY OWNED

21:08FIRMS MAKE 290 MORE TIMES THAN

21:11THEIR AVERAGE PAID WORKER. AND

21:14THESE MODERN TEN FOLD INCREASES

21:16IN CEO MEDIAN PAY. MEDIAN

21:18WORKER PAY RATIOS TYPICALLY

21:20EXCLUDE THE OUTLIER PAY

21:21PACKAGES RECEIVED BY PEOPLE

21:22LIKE ELON MUSK, WHO IS NOW ONE

21:25OF OUR FIRST BILLIONAIRES. WHEN

21:27WE TALK ABOUT BUSINESS BURDENED

21:29BY BUSINESSES, BURDENED BY

21:31TAXES, WE NEED TO QUALIFY THAT

21:33STATEMENT. SMALL BUSINESSES FOR

21:34DECADES HAVE BEEN STRUGGLING

21:35THROUGH RED TAPE, HIGH TAXES ON

21:37THIN MARGINS AND TOKEN GESTURES

21:39AND VALORIZATION BY POLITICIANS

21:41WITH VERY FEW MATERIAL GAINS,

21:43WHILE AT THE SAME TIME, MEGA

21:45CORPORATIONS HAVE NEVER HAD IT

21:47BETTER. REALIZING INCREDIBLE

21:49GAINS UNDER TRUMP TAX CUTS,

21:51WITH STUDIES FINDING THAT 10%

21:52OF THE BENEFITS FROM PRESIDENT

21:54TRUMP'S TAX CUTS FLOWED TO JUST

21:55THE TOP FIVE EXECUTIVES, AND NO

21:59BENEFIT WENT TO THE BOTTOM 90%

22:01OF WORKERS IN THIS COUNTRY.

22:03THIS IS A SYSTEM THAT HAS

22:04CREATED A TRILLIONAIRE. WHILE

22:05SCHOOLS ARE CLOSING, TRIMET

22:08BUSSES ARE BEING CUT, AND

22:09PEOPLE ARE QUITE LITERALLY

22:11DYING ON OUR STREETS. WE COULD

22:14IMAGINE A DIFFERENT WORLD. WE

22:15COULD IMAGINE A SOCIETY WHERE

22:17WE ACTUALLY HAVE STATE CAPACITY.

22:19AND SOME OF THE GREATEST TIMES

22:21IN THIS COUNTRY WERE UNDER

22:22GOVERNMENTS THAT ACTUALLY

22:23WORKED, GOVERNMENTS THAT

22:25DELIVERED SERVICES AND

22:26DELIVERED ON THEIR PROMISES,

22:27AND USED THE POWER OF THE STATE

22:29TO UPLIFT EVERYONE. INSTEAD OF

22:30A SELECT FEW. WE CAN UPLIFT TWO

22:33THIRDS OF SMALL BUSINESSES IN

22:34PORTLAND TODAY, WHILE ALSO

22:36SECURING THE FUTURE OF BELOVED

22:38PROGRAMS LIKE VIOLENCE

22:40PREVENTION PARKS, PROGRAMS,

22:41PORTLAND STREET RESPONSE,

22:43ANYTHING. WE HAVE ENGAGED

22:45EXTENSIVELY WITH BUSINESSES,

22:46STAKEHOLDERS, AND THE PUBLIC,

22:47AND THE FEEDBACK WE RECEIVE ON

22:48THIS PROPOSAL IS THAT IT'S

22:50COMMON SENSE THAT IT'S A NO

22:52BRAINER. WE ALL KNOW THAT SMALL

22:54BUSINESSES ARE WHAT MAKE

22:56PORTLAND GREAT. THEY ARE THE

22:59ARTISTS AND THE PEOPLE WHO

23:00CREATE THE CULTURE OF OUR CITY,

23:02AND THEY ALSO NEED REAL RELIEF.

23:04THIS PROPOSAL IS A

23:05STRAIGHTFORWARD TAX BREAK.

23:07SMALL BUSINESSES ARE TIRED OF

23:08HAVING TO GO THROUGH

23:09COMPLICATED PROGRAMS AND THE

23:11BUREAUCRACY AND APPLY FOR

23:12GRANTS, AND WAIT 10,000 MONTHS

23:14TO HEAR BACK. UNDER THIS POLICY,

23:17THE TAX RELIEF APPLIES

23:19AUTOMATICALLY FOR 18,000 SMALL

23:21BUSINESSES. WE NEED TO FIND A

23:24WAY TO SUPPORT OUR CITY

23:26SERVICES WITHOUT DOING THAT ON

23:27THE BACKS OF WORKING CLASS

23:28PEOPLE, BY PERPETUALLY

23:30INCREASING FEES THAT THEY PAY

23:31AND PERPETUALLY INCREASING THE

23:33FEES FOR SMALL BUSINESSES. SO

23:34WHY NOT USE AN EXISTING POLICY

23:36THAT'S BEEN ON THE BOOKS FOR A

23:37DECADE TO ASK MEGA CORPORATIONS

23:39THAT ARE THRIVING UNDER TRUMP

23:41TAX CUTS IN THE WEALTHIEST

23:42COUNTRY IN THE WORLD TO PAY A

23:44REASONABLE AMOUNT. AND WE HAVE

23:46TO TALK ABOUT WHAT A REASONABLE

23:47AMOUNT IS, BECAUSE, AGAIN, IN

23:49THE 1970S, CEOS MADE IT 20 TO

23:5230 TIMES MORE THAN THEIR MEDIAN

23:53WORKER WHEN POLLED MORE. MOST

23:55RECENTLY, MOST AMERICANS THINK

23:56THAT CEOS SHOULD ONLY MAKE 5 TO

23:5910 TIMES MORE THEIR MEDIAN

24:00WORKER. BUT RIGHT NOW THEY ARE

24:03MAKING ON AVERAGE, 300 TIMES

24:06THAT OF THEIR MEDIAN WORKER.

24:08ELON MUSK MAKES 5000 TIMES THAT

24:11OF HIS MEDIAN WORKER. THIS

24:13PROBLEM IS GETTING WORSE YEAR

24:15AFTER YEAR, AND OUR SENSE OF

24:16WHAT IS REASONABLE IS GETTING

24:18DISTORTED OVER TIME. MODERN DAY

24:21CEO TO MEDIAN WORKER PAY RATIOS

24:24OF 300 TO 1 ARE A CHOICE,

24:26INCREASING THE RATIO FROM 20 TO

24:2830 TO ONE IS A CHOICE. CREATING

24:30THE FIRST TRILLIONAIRE WITH A

24:31PAY RATIO OF OVER 5000 TO 1 IS

24:34A CHOICE. WE CAN ALSO CHOOSE A

24:36DIFFERENT PATH. WE CAN BUILD A

24:37CITY THAT DELIVERS ON ITS

24:39PROMISES AND SERVICES. WE CAN

24:41DELIVER TAX RELIEF TO 18,000

24:43PORTLAND SMALL BUSINESSES, AND

24:45WE CAN DO THAT WHILE PRESENTING

24:47A CHOICE TO THE LARGEST

24:49THRIVING CORPORATIONS IN THE

24:50WEALTHIEST NATION IN THE WORLD.

24:52YOU CAN EITHER PAY A SMALL TAX

24:54THAT REPRESENTS A SMALL, SMALL

24:56FRACTION OF THE BENEFITS YOU

24:57RECEIVE FROM DOING BUSINESS IN

24:59PORTLAND. PICK BETWEEN

25:00INCREASING YOUR MEDIAN WORKER

25:02PAY SUCH THAT THEY CAN ACTUALLY

25:04AFFORD TO LIVE THERE, OR YOU

25:06CAN DECREASE YOUR OWN PAY. AND

25:08WHEN WE SAY DECREASE, WE AREN'T

25:10ASKING FOR A CEO TO WORKER PAY

25:12RATIO THAT WE SAW DECADES AGO.

25:14MEGA CORPORATIONS COULD AVOID

25:16THIS MILD TAX WHILE MAINTAINING

25:18A CEO TO WORKER RATIO THAT

25:20NEARLY DOUBLES THE RATIO WE SAW

25:21IN THE 1970S. THIS IS A COMMON

25:24SENSE POLICY THAT WILL UPLIFT

25:26SMALL BUSINESSES. IT WILL

25:27UPLIFT THE WORKING CLASS. IT

25:28WILL HELP US SAVE SOME OF THE

25:30PRECIOUS SERVICES THAT

25:31PORTLANDERS ARE BEGGING US TO

25:32FIGHT FOR. SO I HOPE THAT WE

25:35WILL GO THROUGH THIS

25:37PRESENTATION, GO THROUGH THE

25:38FACTS, AND THAT WE WILL HAVE

25:39THE POLITICAL COURAGE TO DO

25:40WHAT'S RIGHT IN THIS MOMENT,

25:42BECAUSE WE CAN'T KEEP PRODUCING

25:43BUDGETS THAT ARE AUSTERITY FOR

25:44THE POOR AND KEEP GIVING

25:46MILLIONS OF OUR TAXPAYER

25:48DOLLARS TO THE RICH.

25:50>> THANK YOU. COUNCILOR MORILLO.

25:52AND I'M JUST GOING TO GO DOWN

25:53THE LINE. COUNCILOR KOYAMA LANE.

25:55DO YOU WANT TO OFFER ANY

25:56REMARKS AS A CO-SPONSOR?

25:58>> SURE.

25:59>> I FIRST WANT TO THANK MY

26:01COLLEAGUES. COUNCILOR MORILLO

26:02COUNCILOR GREEN FOR YOUR VISION

26:04AND LEADERSHIP ON THIS

26:05ORDINANCE. I'M PROUD TO

26:06CO-SPONSOR. JUST LAST FRIDAY, I

26:08WAS AT A BETTER PORTLAND SMALL

26:09BUSINESS EVENT TALKING TO SMALL

26:11BUSINESS OWNERS, AND IT WAS A

26:13GREAT CONVERSATION WITH MANY

26:16PASSIONATE, SMART, KIND

26:17BUSINESS OWNERS WHO CARE A LOT

26:19ABOUT PORTLAND. AND I KNOW IT'S

26:22IT'S HARD OUT THERE FOR SMALL

26:24BUSINESSES. IT'S ALWAYS HARD.

26:25AND IT'S IT'S PARTICULARLY HARD

26:27RIGHT NOW. I'VE TAUGHT FOR MANY

26:29YEARS. EVERYONE KNOWS THAT. AND

26:31SO I WHAT THAT MEANS IS I'VE

26:33TAUGHT MANY KINDS OF SMALL

26:35BUSINESS OWNERS IN DISTRICT

26:36THREE, FROM AWAYDAYS BREWERY TO

26:39NO NAME FOR TO OBLIQUE COFFEE

26:40ROASTERS TO GRECO JEWELRY AND

26:43MORE. AND WHAT I KEEP HEARING

26:45OUT THERE IS THAT OUR SMALL

26:48BUSINESS COMMUNITY IS DOING

26:50WELL DESPITE THE CITY, NOT

26:53BECAUSE OF THE CITY, WHICH IS

26:55ONE REASON THAT I'M VERY

26:57HOPEFUL ABOUT THIS ORDINANCE,

26:59BECAUSE IT WOULD RELIEVE

27:00BUSINESS TAX FOR 18,000 SMALL

27:03BUSINESSES. THAT'S HUGE. THIS

27:05IS SOMETHING WE CAN DO TO

27:07PROVIDE SOME RELIEF WHILE WE

27:09CONTINUE TO WORK ON OTHER WAYS

27:10TO MAKE THINGS EASIER FOR OUR

27:13SMALL BUSINESSES LIKE

27:14STREAMLINING, STREAMLINING,

27:15PERMITTING, PROVIDING FINANCIAL

27:17SUPPORT LIKE GRANTS OR FEE

27:19WAIVERS, AND OTHER CONNECTED

27:21ISSUES LIKE TRANSPORTATION AND

27:23COMMUNITY AND PUBLIC SAFETY.

27:25AND I KNOW THAT EVERYONE UP

27:26HERE CARES ABOUT AND SUPPORTS

27:28AND LOVES OUR SMALL BUSINESSES

27:29AND ALL OF OUR DIFFERENT

27:31DISTRICTS FOR MANY REASONS. AND

27:32ONE OF THOSE IS ALSO THAT ONE

27:34THAT'S REALLY IMPORTANT IS THAT

27:36SMALL BUSINESSES KEEP MONEY

27:37LOCAL, KEEP IT IN PORTLAND, WE

27:39KNOW THAT A DOLLAR IS MORE

27:40LIKELY TO REMAIN IN EACH OF OUR

27:42DISTRICTS AND MULTIPLY ITS

27:45IMPACT WHEN IT'S SPENT AT A

27:46LOCALLY OWNED SMALL BUSINESS,

27:48RATHER THAN AT A CHAIN OR OUT

27:50OF STATE COMPANY. AND THAT'S

27:52BECAUSE OF THE LOCAL MULTIPLIER

27:55EFFECT. AND IT'S

27:57>> REALLY INTERESTING. IF

27:58ANYONE WANTS TO TALK MORE ABOUT

27:59THAT LATER, WE CAN TALK ABOUT

28:01IT. SO I LOVE THAT THIS FAIR

28:02SHARE TAX DIRECTLY SUPPORTS

28:04SMALL BUSINESSES WHO WE KNOW,

28:06PUT MONEY DIRECTLY BACK INTO

28:07OUR LOCAL ECONOMY AND

28:09COMMUNITIES. AND I'LL LEAVE IT

28:10THERE FOR NOW.

28:11>> THANK YOU. COUNCILOR

28:12COUNCILOR AVALOS.

28:15>> THANK YOU SO MUCH. YEAH, I

28:17THINK WHAT I WANT TO START WITH

28:19TODAY IS JUST SOMETHING THAT I

28:20HEAR WHEN I'M KNOCKING ON DOORS

28:22CONSTANTLY IN EAST PORTLAND.

28:23PEOPLE ARE WORKING HARD.

28:25THEY'RE DOING EVERYTHING THAT

28:26THEY'RE SUPPOSED TO DO, AND

28:28THEY'RE STILL STRUGGLING TO GET

28:30AHEAD. I KNOCKED ON ONE

28:31PERSON'S DOOR A COUPLE WEEKS

28:33AGO, AND THE FIRST THING THAT I

28:35THAT SHE SAID TO ME WAS, I

28:37DON'T KNOW MUCH ABOUT CITY

28:39COUNCIL OTHER THAN I DON'T LIKE

28:40Y'ALL. AND I WAS LIKE, YOU KNOW

28:41WHAT? WE GET THAT A LOT. BUT I

28:44WAS LIKE, BUT TELL ME WHY. YOU

28:45KNOW, TELL ME WHY YOU

28:46SPECIFICALLY DON'T LIKE YOUR

28:47CITY COUNCIL. AND WHAT SHE TOLD

28:49ME WAS WHAT WE ALL HEAR THAT

28:51PEOPLE ARE WORRIED ABOUT

28:52AFFORDING THEIR RENT AND THEIR

28:53GROCERIES. SHE SAID THAT SHE IS

28:55GOING TO SCHOOL AND DOING

28:57EVERYTHING RIGHT, PAYING HER

28:58RENT, AND SHE ONLY HAS $300

29:00LEFT IN HER PAYCHECK. AND NOW

29:02HER BUS IS GETTING CUT. AND SO

29:04THIS IS WHAT IS AT STAKE HERE.

29:06SMALL BUSINESS OWNERS ARE

29:08WATCHING EVERY SINGLE DOLLAR,

29:09TRYING TO FIGURE OUT HOW TO

29:10KEEP THEIR DOORS OPEN AND KEEP

29:12THEIR EMPLOYEES PAID. AND

29:15MEANWHILE, WE'RE BEING TOLD

29:15THAT THE SOLUTION TO PORTLAND'S

29:17ECONOMIC CHALLENGES IS TO ASK

29:18EVEN LESS OF THE WEALTHIEST

29:20CORPORATIONS. AND I

29:21FUNDAMENTALLY DISAGREE. BECAUSE

29:23HERE'S THE QUESTION THAT I KEEP

29:24COMING BACK TO. WHO ARE WE

29:26BUILDING THIS ECONOMY FOR? FOR

29:28THE FAIR SHARE TAX IS ONE WAY

29:29WE CAN START ANSWERING THAT

29:31QUESTION DIFFERENTLY BY

29:33PROVIDING THOSE 18,000 SMALL

29:35BUSINESSES WITH TAX RELIEF.

29:36WE'RE SAVING THEM AN AVERAGE OF

29:37$900 A YEAR. AND WE'RE ASKING

29:39THESE LARGE, PUBLICLY TRADED

29:41CORPORATIONS THAT ARE DOING

29:42BUSINESS IN PORTLAND, NOT

29:43NECESSARILY HEADQUARTERED HERE,

29:44WITH THESE ENORMOUS CEO TO

29:46WORKER PAY GAPS TO CONTRIBUTE

29:48MORE. AND I WANT TO EMPHASIZE

29:50SOMETHING ABOUT THOSE SMALL

29:51BUSINESSES IN EAST PORTLAND,

29:52BECAUSE MANY OF THEM ARE

29:53IMMIGRANT OWNED, THEIR BIPOC

29:55OWNED BUSINESSES OPERATING ON

29:57INCREDIBLY TIGHT MARGINS. THEIR

29:59NEIGHBORHOOD RESTAURANTS AND

29:59FAMILY BUSINESSES AND LOCAL

30:02ENTREPRENEURS WHO HAVE INVESTED

30:03EVERYTHING THEY HAVE INTO

30:04BUILDING SOMETHING FOR

30:04THEMSELVES AND THEIR

30:06COMMUNITIES. $900 MIGHT BE A

30:08ROUNDING ERROR TO A

30:09MULTINATIONAL CORPORATION, BUT

30:10TO A NEIGHBORHOOD BUSINESS,

30:11THAT'S REAL MONEY. THAT'S A

30:13CHANCE AT A TIME WHEN WE'RE

30:15STRUGGLING TO FUND THE BASIC

30:16SERVICES THAT PORTLANDERS RELY

30:18ON. WE HAVE AN OBLIGATION TO

30:20EXAMINE HOW WE'RE GENERATING

30:21REVENUE, NOT JUST HOW WE'RE

30:22CUTTING SPENDING. AND I

30:24RECOGNIZE THAT THERE ARE

30:24DIFFERENT REVENUE PROJECTIONS

30:26THAT WERE, I'M SURE, GOING TO

30:27DEBATE VERY SHORTLY. AND THOSE

30:30DESERVE CAREFUL CONSIDERATION.

30:31BUT UNCERTAINTY ABOUT THAT

30:33DOLLAR AMOUNT SHOULD NOT STOP

30:34US FROM HAVING A MUCH BIGGER

30:36CONVERSATION ABOUT FAIRNESS,

30:38BECAUSE WE CANNOT KEEP

30:39BALANCING OUR CITY'S FINANCIAL

30:40CHALLENGES ON THE BACKS OF

30:42WORKING PEOPLE AND SMALL

30:43BUSINESSES, WHILE TREATING THE

30:44WEALTHIEST CORPORATIONS AS

30:45THOUGH THEY'RE ASKING THEM TO

30:47CONTRIBUTE MORE IS SOMEHOW

30:48UNREASONABLE. IT'S NOT. SO I'M

30:49PROUD TO BE A CO-SPONSOR. THANK

30:51YOU SO MUCH FOR THE LEADERSHIP

30:53OF COUNCILORS GREENE AND

30:53MORILLO, AND I HOPE THAT MY

30:55COLLEAGUES WILL APPROACH THIS

30:56PROPOSAL WITH THE SAME QUESTION

30:57THAT I'M ASKING, WHICH IS, WHO

30:59ARE WE ASKING TO SACRIFICE AND

31:01WHO CAN ACTUALLY AFFORD TO

31:02CONTRIBUTE MORE? SO THAT IS

31:03WHAT THIS TAX IS ABOUT. AND I

31:05LOOK FORWARD TO THE

31:06CONVERSATION. THANK YOU.

31:07>> THANK YOU, COUNCILOR AVALOS.

31:09COUNCILOR DUNPHY.

31:11>> WELL, THANK YOU. AND I'M

31:13PROUD TO BE A CO-SPONSOR OF

31:15THIS LEGISLATION. PORTLAND IS A

31:16SMALL BUSINESS TOWN. NINE OUT

31:18OF TEN EMPLOYERS IN OUR CITY

31:20EMPLOY TEN OR FEWER EMPLOYEES.

31:22BUT THOSE SMALL BUSINESSES ARE

31:24STRUGGLING. THEY'RE SUFFERING

31:25UNDER THE WEIGHT OF INFLATION,

31:26THE COST OF OPERATING YOUR

31:28BUSINESS AND INCLUDING LOCAL

31:29TAXES. AS A FORMER SMALL

31:31BUSINESS OWNER MYSELF, I KNOW

31:33FIRSTHAND HOW PUNISHING

31:34PORTLAND'S BUSINESS LICENSE TAX

31:35CAN BE ON ALREADY TIGHT MARGINS.

31:38I'M CO-SPONSORING THE FAIR

31:39SHARE TAX BECAUSE IT'S GOING TO

31:40ELIMINATE THE TAX FOR OVER

31:4218,000 SMALL BUSINESSES WHO

31:43MAKE LESS THAN $500,000 PER

31:45YEAR. I CANNOT SIMPLY STAND BY

31:47AND WATCH AS WE ARE LOSING

31:49BELOVED RESTAURANTS AND BARS

31:50AND COFFEE SHOPS, RETAILERS AND

31:52SMALL NEIGHBORHOOD BUSINESSES

31:53THAT DEFINE PORTLAND'S IDENTITY.

31:56WHILE MEGA CORPORATIONS SUCK

31:57BILLIONS OF DOLLARS OUT OF OUR

31:59COMMUNITY. HOW MANY TIMES HAVE

32:00WE HEARD ABOUT FOOD CART FOOD

32:02CARTS BEING KICKED OUT OF THEIR

32:04SPACES IN ORDER TO BUILD A

32:05FANCY HOTEL THAT IMMEDIATELY

32:07FAILS? I DON'T CARE HOW WELL

32:09STARBUCKS IS DOING, I CARE

32:10ABOUT HOW WELL PARKROSE COFFEE

32:11IS DOING. NOW IS THE EXACT

32:14RIGHT TIME TO UPLIFT THOSE

32:15SMALL BUSINESSES AND GIVE THEM

32:16THE TAX RELIEF THAT THEY

32:18DESERVE. WE HAVE NO CRANES IN

32:19THE SKY TODAY. MEGA

32:21CORPORATIONS ARE NOT INVESTING

32:22IN PORTLAND, BUT EVERY SINGLE

32:23DAY THERE ARE INDIVIDUALS STILL

32:25TRYING TO OPEN NEW BUSINESSES

32:27IN PORTLAND. AND IF WE DON'T

32:28FIGHT TO PRESERVE WHAT WE

32:29ALREADY HAVE AND CREATE A PATH

32:31FOR SUCCESS FOR THE ONLY PEOPLE

32:32WHO ARE ACTUALLY INVESTING IN

32:34OUR COMMUNITY, THEN THERE WON'T

32:35BE A PORTLAND TO SAVE. SO I'M

32:36EAGER TO GET INTO TESTIMONY, SO

32:38I'M GOING TO LEAVE IT THERE.

32:40>> THANK YOU, COUNCILOR DUNPHY.

32:41SO AT THIS TIME, COLLEAGUES,

32:43I'M GOING TO GIVE AN OVERVIEW

32:45OF WHAT THE POLICY DOES. AND

32:47THEN WE WILL MOVE TO TWO

32:49INVITED SPEAKERS AND THEN WE'LL

32:51MOVE INTO PUBLIC TESTIMONY. SO

32:52I'LL JUMP RIGHT IN. I MIGHT

32:53MOVE A LITTLE FASTER BECAUSE I

32:55THINK WE'RE RUNNING A BIT

32:56BEHIND TIME. OKAY. I THINK YOU

32:58GUYS CAN SEE MY SCREEN. ALL

33:00RIGHT. FAIR SHARE TAX. WHAT

33:01DOES IT DO? OKAY. SO COLLEAGUES,

33:04THE POLICY HAS BEEN CAREFULLY

33:05CRAFTED TO SERVE SEVERAL

33:08PURPOSES. THE FIRST IS SORT OF

33:10ADDRESS THE GREAT SCOURGE OF

33:11OUR TIME, WHICH IS INEQUALITY.

33:13ACTUALLY, THE SECOND GREAT

33:14SCOURGE OF OUR TIME. FIRST

33:15GREAT SCOURGE OF OUR TIME IS

33:16ICE. ADDRESSING INEQUALITY

33:19BETWEEN BOTH HIGH INCOME AND

33:21LOWER INCOME HOUSEHOLDS, AS

33:22WELL AS SMALL BUSINESS, SMALL

33:24AND BIG BUSINESSES. WE ALSO

33:27HAVE DESIGNED THIS TO RAISE

33:29REVENUE TO PROTECT CITY'S CORE

33:31SERVICES AND DO SO IN A WAY

33:32THAT IS A PROGRESSIVE TAX

33:34STRUCTURE. RATHER THAN KEEP A

33:36LARGER SHARE ON THOSE WITH THE

33:38LEAST ABILITY TO PAY. AND

33:40FINALLY, WE WANT TO SEND A

33:41PRICE SIGNAL. WE WANT TO SEND

33:43AN INCENTIVE TO CREATE BETTER

33:45BUSINESS PRACTICES BY

33:46DISCOURAGING EXORBITANT

33:47EXECUTIVE PAY AND ENCOURAGING

33:49HIGHER WAGES. SO THOSE ARE THE

33:52PRIMARY PURPOSES OF THE TAX. SO

33:55WHAT DOES IT DO. IT IT DOES TWO

33:58BROAD THINGS. FIRST OF ALL IT

34:00INCREASES THE BUSINESS LICENSE

34:02TAX EXEMPTION FROM 75,000 TO

34:07500,000 IN GROSS RECEIPTS,

34:08WHICH WILL RESULT IN BY OUR

34:10MODELING AND PARTNERSHIP WITH

34:11THE REVENUE DEPARTMENT. A TAX

34:14EXEMPTION FOR 18,000 SMALL

34:16BUSINESSES WILL NO LONGER HAVE

34:17TO PAY THE BUSINESS LICENSE TAX

34:19IN THE CITY OF PORTLAND. AND

34:21THE OTHER PART OF IT IS THAT IT

34:23CHANGES THE PAY RATIO SURTAX

34:25STRUCTURE, WHICH IS SOMETHING

34:26WE'VE HAD ON THE BOOKS. THANKS

34:27TO COUNCILOR NOVICK, THEN

34:29COMMISSIONER NOVICK LEADERSHIP

34:30SINCE 2016. IT ADDS NEW

34:33BRACKETS, AND IT AFFECTS THE

34:35RATES FOR APPROXIMATELY 405

34:37LARGE PUBLICLY TRADED

34:39CORPORATIONS THAT HAVE A

34:40DODD-FRANK REPORTING

34:41REQUIREMENT FOR THEIR CEO PAY

34:43RATIO. MOVING RIGHT ALONG. SO

34:48HERE WE JUST WANT TO

34:49CONTEXTUALIZE THIS WITH SOME

34:50DATA ON THE BUSINESS CLIMATE IN

34:54IN OREGON. SO WHAT WE KNOW IS

34:56THAT PORTLAND'S SMALL

34:57BUSINESSES ARE STRUGGLING. THIS

35:00IS BUREAU OF LABOR AND

35:01STATISTICS DATA. SO WHAT THIS

35:02IS SHOWING IS THAT MORE

35:04BUSINESSES ARE SHUTTERING THAN

35:06NEW ONES. OPENING THOSE

35:09CLOSURES OUTNUMBERED OPENINGS

35:10BY 6000 DURING THE FIRST NINE

35:12MONTHS OF 2025. AND IF YOU GUYS

35:14ARE IN THE SMALL BUSINESS,

35:17SMALL BUSINESS BUSINESS IN THE

35:18CITY OF PORTLAND, THEN YOU KNOW

35:19THAT THAT'S THE THING YOU THINK

35:21ABOUT EVERY SINGLE DAY. IF YOU

35:22LIVE IN NEIGHBORHOODS WHERE YOU

35:24SEE A VACANT STOREFRONT, YOU

35:26FEEL THAT. RIGHT? AND SO WE

35:29HAVE TO LET THE DATA DRIVE OUR,

35:32OUR POLICY. AND WHAT WE SEE IS

35:36THAT OUR LOCAL ECONOMY IS

35:38BECOMING INCREASINGLY DOMINATED

35:41BY LARGE MULTINATIONAL

35:43CORPORATIONS THAT CAN TAKE MORE

35:44MARKET SHARE AND HAVE A

35:46DIFFERENTIAL ADVANTAGE RELATIVE

35:47TO SMALL BUSINESSES, WHICH

35:48MAKES IT REALLY DIFFICULT TO

35:49COMPETE. SO WHAT ARE WE GOING

35:53TO DO HERE? WHAT ARE THE BASICS?

35:55SO THE CHANGE THAT WE'RE

35:56PROPOSING TO THE BUSINESS

35:57LICENSE TAX AND THE PAY RATIO

35:59DOES THE FOLLOWING. IT AFFECTS.

36:03SO ANY BUSINESS DOING BUSINESS

36:05IN PORTLAND, IRRESPECTIVE OF

36:06WHERE THEY'RE HEADQUARTERED

36:08PAYS THE BUSINESS LICENSE TAX.

36:09SO I THINK ONE OF THE THINGS

36:11THAT YOU'RE GOING TO SEE, ONE

36:12OF THE KIND OF, I THINK, FALSE

36:14TALKING POINTS THAT YOU'LL SEE

36:15THROUGHOUT THIS DEBATE IS THIS

36:17WILL JUST DRIVE BUSINESSES OUT

36:20OF PORTLAND, ESPECIALLY THESE

36:21LARGE CORPORATIONS. WON'T THEY

36:22JUST MOVE TO TIGARD OR TUALATIN?

36:24WON'T THEY JUST TAKE THEIR

36:25BUSINESS OUT OF PORTLAND? AND

36:26THE ANSWER TO THAT IS, IF THEY

36:28WERE TO MOVE THEIR BUSINESS,

36:30SAY, LET'S SAY THERE'S A

36:31FORTUNE 500 FIRM IN PORTLAND,

36:33AND THEN THEY MOVED IT TO

36:35BEAVERTON. UNLESS THEY

36:36ABANDONED THE PORTLAND MARKET,

36:37THEY STILL HAVE TO PAY THE TAX,

36:39RIGHT. SO AMAZON.COM PAYS THE

36:41TAX. RIGHT NOW. THEY'RE NOT

36:43HEADQUARTERED IN PORTLAND.

36:47TARGET. TARGET PAYS THE TAX.

36:50THEY'RE NOT HEADQUARTERED IN

36:51PORTLAND. AND IF THEY WERE TO

36:52PULL ALL THEIR STORES OUT THEY

36:54STILL HAVE ONLINE RETAIL. RIGHT.

36:55SO THAT'S THAT'S THE THING. SO

36:57WE ACTUALLY HAVE A SORT OF

36:58BULWARK AGAINST TAX FLIGHT. ALL

37:00THOSE BUSINESSES REQUIRE TO PAY

37:01A BUSINESS LICENSE TAX AT 2.6%

37:03ON NET INCOME. BUT IT'S ONLY

37:05THOSE PUBLICLY TRADED

37:06CORPORATIONS THAT HAVE CEO PAY

37:09RATIOS THAT ARE EXORBITANT,

37:11THAT PAY THIS EXTRA SURTAX.

37:14CURRENTLY, THAT'S 100 TO 100 TO

37:16ONE OR MORE. SO WHAT WE'RE

37:19GOING TO DO IS PROPOSE TO RAISE

37:21THAT SURTAX. AND RIGHT HERE WE

37:23HAVE GOT A TABLE THAT SHOWS

37:26ESSENTIALLY THE FIRST COLUMN

37:27WOULD BE THE CURRENT SURTAX

37:29RATE. YOU'LL NOTE THAT FOR

37:32FORTUNE FIVE OR I KEEP SAYING

37:34FORTUNE 500. BUT BUT PUBLICLY

37:35TRADED CORPORATIONS THAT HAVE A

37:38100 TO 1 OR A UP TO A 250 TO 1

37:41CEO TO PAY RATIO, SURTAX OR

37:45RATIO WILL PAY A SURTAX OF 10%

37:46ON THE BUSINESS LICENSE TAX. SO

37:49THAT TAKES IT FROM 2.6% TO AN

37:52EFFECTIVE RATE OF 2.86%. THAT'S

37:55CURRENTLY OURS. THEN SORT OF

37:56RATCHETS THAT UP AND WE'RE SORT

37:58OF SAYING, WE'RE SAYING, LOOK,

37:59NOT ONLY ARE WE GOING TO START

38:01THIS IMPACT EARLIER AT 50 TO 1,

38:04ONCE YOU GET TO 100 TO 1 AND UP,

38:07WE'RE JUST GOING TO TIE THE THE

38:10SURTAX TO THE RATE AT WHICH YOU

38:12OVERPAY YOUR CEO RELATIVE TO

38:13YOUR MEDIAN WORKER. SO IF IT'S

38:15101, GUESS WHAT? THAT'S 100%

38:17SURTAX. IF IT'S 250 TO 1, GUESS

38:20WHAT. THAT'S A 250% SURTAX. AND

38:22IF YOU'RE 500 TO 1 OR GREATER,

38:24IF YOU'RE THE ELON MUSKS OF THE

38:25WORLD, OR IF YOU'RE, YOU KNOW,

38:28IF YOU'RE CEO OF LIVE NATION,

38:30YOU'RE GOING TO PAY A 500%

38:32SURTAX. AND SO THAT'S NOT A

38:34500% TAX. THIS IS JUST A

38:36PERCENTAGE ON A TAX. SO THE

38:38COLUMN ON THE RIGHT HAND SIDE

38:39JUST SHOWS YOU THE EFFECTIVE

38:40TAX RATE. SO THAT'S WHAT THEY

38:42WOULD PAY AFTER THE CHANGE. ALL

38:46RIGHT. SO HOW DOES THIS ALL

38:48WORK. WE WE ESTIMATE THAT

38:5318,405 SMALL BUSINESSES WOULD

38:54RECEIVE AN EXEMPTION 97.8%.

38:57SEEING TAXES GO TO ZERO WITH AN

38:59AVERAGE SAVING OF $900. AND SO

39:01FOLKS WILL SAY, WELL, THAT'S

39:03ONLY $900. THAT'S NOT THAT'S

39:04NOT A LOT. BUT I'LL REMIND

39:06FOLKS THAT WHEN WE RAISE THE

39:08VLT FROM 50 TO 75, IT WASN'T A

39:10LOT EITHER, BUT IT WAS

39:11MEANINGFUL AND IT WAS IMPORTANT

39:13SIGNAL THAT WE SENT. I WAS

39:14PROUD TO SUPPORT THAT ONE, TOO.

39:16AND I THANK YOU FOR YOUR

39:17LEADERSHIP, COUNCILOR ZIMMERMAN

39:18AND MR. MAYOR, BUT 900 ON

39:20AVERAGE TIMES 18,000 IS ABOUT

39:22$14 MILLION. THAT STAYS IN THE

39:25ECONOMY. THAT STAYS IN THE

39:26PRIVATE SECTOR TO SPEND ON

39:27OTHER THINGS, INCREASE WAGES,

39:29PROVIDE THAT CHRISTMAS BONUS,

39:32PAY THAT OTHER FEE THAT WE JUST

39:33RAISED. RIGHT. SO THESE THINGS

39:35MATTER. AND IT'S IT'S A NET

39:37IMPACT TO THE LOCAL ECONOMY OF

39:39$14 MILLION BY INCREASING THE

39:42PAY RATIO SURTAX BASED UPON,

39:45YOU KNOW, THE COUNTERFACTUAL OF

39:47FISCAL YEAR 2024. WE ESTIMATE

39:50WITH THE REVENUE DEPARTMENT

39:51THAT THAT WOULD HAVE PRODUCED

39:53AN INCREMENTAL INCREASE OF $72

39:55MILLION. NOW, OUR OUR CITY

39:57ECONOMIST HAS DONE SOME

39:58ANALYSIS WITH THE CFO TO SAY,

40:01WELL, THESE ARE THIS IS A

40:02VOLATILE INCOME SOURCE. AND

40:03THEN THAT EXTRA INCOME WOULD

40:04FALL ON A FEW LARGE

40:06CORPORATIONS THAT COULD SEE

40:07THEIR PROFITS FLUCTUATE WITH

40:09THE WITH THE STOCK MARKET. AND

40:11SO APPLYING SOME PRETTY

40:12CONSERVATIVE ASSUMPTIONS, YOU

40:14KNOW, WE CAN SAFELY ASSUME THAT

40:16AN EXTRA $33 MILLION A YEAR

40:18WOULD BE SOMETHING THAT WE

40:19WOULD FORECAST GOING FORWARD.

40:21THAT'S STILL MORE MONEY THAN WE

40:22HAVE TODAY AFTER WE PROVIDED

40:23RELIEF. SO WE'LL GET INTO THAT

40:25DISCUSSION, AND IT'S A

40:26WORTHWHILE DISCUSSION TO HAVE.

40:28AND THEN WE JUST TALKED

40:30YESTERDAY ABOUT A BLT RESERVE

40:33POLICY. I THINK THIS PAIRS VERY

40:35WELL WITH THAT BLT RESERVE

40:37POLICY. SO WE CAN FILL UP THAT

40:38RESERVE VERY QUICKLY ONCE THIS

40:39TAX GOES INTO EFFECT. AND WE

40:41CERTAINLY WOULDN'T WANT TO

40:42ASSUME $72 MILLION IN OUR

40:45FORWARD LOOKING BUDGETING. OKAY.

40:48MORE CONTEXT. SO SINCE REAGAN

40:50AND COUNCILOR MORILLO, YOU GOT

40:51TO THIS A LITTLE BIT HERE, BUT.

40:55CEO PAY JUST SKYROCKETS. YOU

40:57KNOW, THERE'S SORT OF

40:58THATCHERITE REAGANOMICS STUFF

41:00JUST BASICALLY JUICES UP THE

41:01POWER OF THE CEO. THEY PICK THE

41:03BOARDS OF THE CORPORATIONS,

41:04THEY GIVE THE BOARD VOTES TO

41:06GIVE THEM EXORBITANT PACKAGES.

41:08THEY ENGAGE IN STOCK BUYBACKS,

41:10WHICH THEN DRIVES UP THEIR

41:12COMPENSATION PACKAGES ALL AT

41:14THE SAME TIME THAT THE

41:15EFFECTIVE TAX RATE OR THE TOP

41:16MARGINAL TAX RATES ARE GOING

41:18DOWN, THAT THAT TAX CUT HAS

41:20BEEN USED TO PURCHASE STOCKS

41:22BACK FOR THE FIRM, WHICH DRIVES

41:24THE CEO PAY RATIO. SO THIS IS A

41:26DEEPLY BROKEN SYSTEM THAT IS

41:27DRIVING INEQUALITY IN AMERICA.

41:31AND MORE RECENTLY, FOLLOWING

41:34TRUMP'S 20 2016 ELECTION BEFORE

41:37HE TOOK OFFICE, THE SIGNAL THE

41:39STOCK MARKET WAS DONALD TRUMP'S

41:40GOING TO COME IN AND CUT TAXES

41:42FOR THE WEALTHIEST IN THE

41:44UNITED STATES. AND SO MARKET

41:48PARTICIPANTS ANTICIPATED THAT

41:49AND STARTED BIDDING UP THE

41:50PRICE OF STOCKS. AND IT

41:51BASICALLY WENT THROUGH HIS

41:52WHOLE TERM. SO THE EFFECT OF

41:54THAT TAX CUT WAS TO DRIVE UP

41:56STOCK PRICES, WHICH DRIVES UP

41:58CEO COMPENSATION, WHICH WORSENS

42:00INEQUALITY. AND IT'S NOTABLE

42:03THAT THESE TAXES ON PROFITS

42:06MAINLY IMPACT THE SHAREHOLDERS

42:08AND THE EXECUTIVES. SO ANOTHER

42:09THING YOU MIGHT HEAR IS WON'T

42:11THIS GET PASSED ON TO CONSUMERS

42:13GENERALLY? GENERALLY SPEAKING,

42:14A PROFIT ON TAXES, ON A PROFIT

42:16ON NET INCOME. NET INCOME IS

42:18BORNE BY BY THE EXECUTIVES AND

42:20THE SHAREHOLDERS BECAUSE THE

42:21PRICING DECISIONS ARE MADE

42:23EARLIER IN THE PRODUCTION

42:24PROCESS. I ALREADY SAID THAT

42:27JUST NOW. BUT BASICALLY, YOU

42:30KNOW, UNLIKE A SALES TAX, THESE

42:31ARE GENERALLY NOT PASSED ON.

42:33BUT I THINK THE PIECE THAT'S

42:34IMPORTANT HERE IS I'M GOING TO

42:36USE AN EXAMPLE TO MAKE THE

42:37POINT. LET'S COMPARE STARBUCKS

42:40WITH PARK ROAST COFFEE. OR HELL,

42:42LET'S COMPARE STARBUCKS WITH

42:44DUTCH BROTHERS COFFEE, WHICH

42:45DUTCH BROTHERS WOULD PAY SOME

42:47SURTAX ON IT, BUT NOT AS MUCH

42:49AS STARBUCKS. SO STARBUCKS SAID,

42:50YOU KNOW WHAT? WE DON'T LIKE A

42:5215% TAX ON OUR PROFITS. WE'RE

42:54WILLING TO LEAVE PROFITS ON THE

42:55TABLE BY JUST TAKING OUR BALL

42:57AND GOING HOME. THEY WOULD THEN

42:59CEDE THEIR MARKET SHARE TO

43:01DUTCH BROTHERS, AND THEY WOULD

43:02CEDE THEIR MARKET SHARE TO

43:04PARKER'S COFFEE, WHICH WOULD

43:05THEN INCREASE THEIR SALES AND

43:06INCREASE THEIR PROFITS. AND SO

43:09IF YOU'RE A CEO THAT GETS PAID

43:11BASED UPON YOUR ABILITY TO

43:12DELIVER PROFITS TO YOUR

43:14SHAREHOLDERS AND INCREASE

43:15SHAREHOLDER VALUE, THEN YOU

43:16WOULD BE IN VIOLATION OF YOUR

43:17FIDUCIARY RESPONSIBILITY BY

43:19SAYING, I'M GOING TO LEAVE AND

43:21STOP DOING BUSINESS BECAUSE I'M

43:23DOING SLIGHTLY LESS PROFITS

43:25AFTER TAXES. AND THAT'S AN

43:26IMPORTANT THING TO KEEP IN MIND.

43:27IF WE'RE TO BELIEVE THAT CEOS

43:29ARE PAID SO LARGE BECAUSE THEY

43:30ARE MASTERS OF THE UNIVERSE,

43:32AND THEY'RE IMPECCABLE

43:34ALLOCATORS OF CAPITAL, THEN

43:35THEY WOULD NEVER MAKE SUCH AN

43:37ERROR. OKAY. ALL RIGHT. SO JUST

43:40TO MAKE THE POINT HERE, THIS

43:43CREATES AN INCENTIVE TO. SO

43:45THERE ARE THREE OPTIONS THAT

43:46WE'VE SORT OF MODELED HERE TO

43:48REDUCE THE PAY RATIO SURTAX. SO

43:51THE EXAMPLE HERE IS THE

43:52STARBUCKS CEO WHO MAKES 1800 TO

43:56130 MILLION, $31 MILLION, WHILE

43:57WHILE THE MEDIAN WORKER MAKES

43:59$17,000 A YEAR. JUST SIT WITH

44:00THAT FOR A SECOND. THIS WOULD

44:03BE AN EFFECTIVE TAX OF 15.6%.

44:06IF YOU ASSUME $100 MILLION IN

44:08REVENUE, YOU COULD REDUCE IT BY

44:12PAYING WORKERS ENOUGH TO AFFORD

44:13A TWO BEDROOM APARTMENT. THAT

44:15WOULD REDUCE YOUR LIABILITY BY

44:19$435,000. YOU'RE SAVING $435 BY

44:21RAISING YOUR WORKERS SALARIES,

44:24YOU COULD REDUCE THE PAY RATIO

44:25TO AN AVERAGE OF A LARGE. SO

44:27JUST BRING IT TO THE AVERAGE,

44:28WHICH. IN THE UNITED STATES,

44:30THE AVERAGE IS 280 TO 1. THAT

44:32WOULD THEN ALSO PRODUCE THE

44:33SAVINGS FOR THE FIRM OF

44:36$435,000. AND THEN IF YOU WERE

44:37TO JUST TO REDUCE IT TO

44:39PRE-REAGAN LEVELS OF CEO

44:40COMPENSATION, THE FIRM WOULD

44:41BECOME MORE PROFITABLE BY

44:44$871,000. SO THE POINT HERE IS

44:47THAT IF WE WERE TO ASSUME THAT

44:50CEOS ARE WIZARDS AND THEIR

44:52PROFIT OPTIMIZATION PROFIT

44:54OPTIMIZERS, THEN WE HAVE AN

44:55OPPORTUNITY TO PROVIDE AN

44:56INCENTIVE TO INCREASE THE

44:57PROFITS OF THESE FIRMS BY

44:58REDUCING THEIR CEO SALARIES AND

45:02HELPING PORTLAND OUT TO.

45:05RESEARCH INDICATES THAT

45:06EXECUTIVE EXCESSIVE EXECUTIVE

45:09PAY IS ASSOCIATED WITH LOWER

45:10FIRM PERFORMANCE AND LOWER

45:12WORKER MORALE. WE DON'T ALLOW

45:15APPLAUSE OR AUDIBLE REACTIONS

45:17FROM THE AUDIENCE, BUT NOD YOUR

45:19HEAD IF YOU FEEL LIKE YOU'VE

45:21LOST MORALE AT YOUR COMPANY.

45:22WHEN YOU HEARD THAT YOUR CEO

45:24GOT PAID MORE AND YOU JUST GOT

45:26YOUR BUDDY GOT CUT FROM THE

45:27LINE, YEAH, FEELING THAT RIGHT

45:30NOW, LARGE PAY RATIOS ARE THE

45:32RESULT OF CEO POWER AND BIG

45:34BUSINESS MARKET CONTROL, NOT

45:35PRODUCTIVITY AND INNOVATION. SO

45:37THIS ORDINANCE JUST PUSHES BACK

45:38ON THAT A LITTLE BIT. I FEEL

45:41LIKE I'M RUNNING LONG. SO I'M

45:43GOING TO TRY TO GET TO THE

45:44POINT HERE. BUSINESSES IN

45:45GENERAL ARE NOT OVERTAXED IN

45:48PORTLAND. I KNOW THAT THERE'S A

45:50TALKING POINT THAT SUGGESTS

45:51THAT'S TRUE, BUT IT'S BUT IT'S

45:52NOT. BUT SMALL BUSINESSES DO

45:53NEED RELIEF FOR ALL THE REASONS

45:55WE'VE ALREADY DISCUSSED. IT'S

45:56HARD TO DO BUSINESS IN THIS

45:57CITY. ON AVERAGE, BUSINESSES IN

46:00OREGON PAY $7,900 PER EMPLOYEE

46:03IN TAXES VERSUS 8600 NATIONALLY,

46:06VERSUS $11,400 IN CALIFORNIA

46:09VERSUS 10,400 IN WASHINGTON.

46:11AND WE'RE ALWAYS COMPARING

46:12VANCOUVER WITH PORTLAND IN

46:14TERMS OF OUR COMPETITIVENESS.

46:15BUT BUSINESSES PAY ON AVERAGE,

46:18A HIGHER SHARE OF TAXES PER

46:20EMPLOYEE IN WASHINGTON STATE

46:21THAN THEY DO IN PORTLAND. IN

46:23OREGON, OREGON RANKS EIGHTH

46:25LOWEST IN TERMS OF BUSINESS

46:26SHARE OF STATE AND LOCAL TAXES,

46:27NOT INCLUDING SALES TAXES. AND

46:29IT'S LARGELY BECAUSE WE DON'T

46:30HAVE A SALES TAX. ALL RIGHT.

46:33JUST ANOTHER CHART TO GIVE YOU

46:34A SENSE OF NEW BUSINESS

46:36OPENINGS THAT HAVE BEEN

46:37DECLINING DECADES NATIONALLY

46:38AND IN PORTLAND. SO WHAT THIS

46:40MEANS, FOLKS, IS THAT AS

46:43BUSINESSES GET BIGGER,

46:45CORPORATIONS GET MORE

46:46PROFITABLE, THEY CONSOLIDATE

46:47MARKET SHARE, AND THERE ARE

46:48FEWER FIRMS, OKAY, BECOME LIKE

46:50MORE MONOPOLIES MEANS FEWER

46:51FIRMS, RIGHT. AND THEN I JUST

46:53WANT TO LEAVE YOU WITH THIS.

46:55WE'VE DONE SOME EXTENSIVE

46:56OUTREACH WITH THE SMALL

46:57BUSINESS COMMUNITY AND

46:58COMMUNITY BASED ORGANIZATIONS

47:00AND LABOR UNIONS. AND SO WE'VE

47:01GOT A SELECTION HERE. THE

47:03DIVISION, MIDWAY ALLIANCE, HAS

47:04COME OUT IN SUPPORT OF THIS

47:05PARKROSE COFFEE SHOP, JOBS WITH

47:07JUSTICE, THRIVE EAST PDX BOLD

47:10COFFEE IN BOOKS. WE GOT THE

47:12WELCOME HOME COALITION,

47:13HISTORIC PARKROSE BUSINESS,

47:14PORTLAND BUSINESSES FOR ALL AND

47:16KEEP AND PROTECT 17 AND THE

47:18LIST GOES ON. SO THANK YOU FOR

47:20YOUR ATTENTION. AT THIS POINT,

47:23I'LL JUST LEAVE YOU WITH THIS

47:24BEFORE GOING TO OUR INVITED

47:26TESTIMONY THAT, YOU KNOW, WE'VE

47:28TALKED ABOUT BEING IN A DOOM

47:29LOOP. WELL, WE HAVE BEEN IN A

47:31DOOM LOOP OF CORPORATE TAX

47:32BREAKS AND LOW WAGES FOR

47:33WORKERS FOR DECADES, AND IT'S

47:35TIME TO STOP THAT. THIS IS NOT

47:36THE MAGIC WAND THAT CURES IT

47:38ALL, BUT IT IS A PLANTING A

47:40FLAG IN THE GROUND. AND I HOPE

47:42THAT WE CAN START TO CLAW BACK

47:44THE THE TRUMP TAX CUTS AND

47:45INVEST IN OUR CITY. THANK YOU

47:47SO MUCH. SO AT THIS TIME, IF

47:49TIM SHAW IS IN THE AUDIENCE, I

47:51WOULD LOVE TO INVITE YOU UP TO

47:53PROVIDE SOME REMARKS. AND ONCE

47:55YOU GET UP HERE, IF YOU'VE

47:58NEVER DONE THIS BEFORE,

48:00INTRODUCE YOURSELF FOR THE

48:01RECORD AND YOU'VE GOT ABOUT

48:03FIVE MINUTES. AND I WANT TO

48:04THANK YOU FOR FOR BEING OUT

48:06HERE TODAY.

48:06>> AWESOME. THANK YOU. MY NAME

48:08IS TIM SHAW, AND I'M HERE TO

48:10REPRESENT BOLD COFFEE AND BOOKS.

48:11WE'RE LOCATED IN THE GOOSE

48:12HOLLOW AREA. SO DEAR COMMITTEE

48:16OF THE WHOLE, THANK YOU FOR

48:18ALLOWING ME TO SPEAK TODAY. I

48:20WOULD LIKE TO COME OUT AND

48:21DIRECTLY ASK YOU TO VOTE IN

48:23FAVOR OF THE FAIR SHARE TAX

48:25ORDINANCE, WHICH COUNCILOR

48:26GREEN AND COUNCILOR MORILLO ARE

48:30BRINGING TO THE TABLE TO BE

48:31VOTED ON. AS THE CO OWNER OF

48:34BOLD COFFEE AND BOOKS, MY

48:36PARTNER AND I PAY OVER $7,000

48:39ANNUALLY IN TAXES AND LICENSES.

48:41THESE INCLUDE PICNIC TABLE OR

48:44PICNIC TABLE AREA FOR OUR

48:45CUSTOMERS TO BE ABLE TO ENJOY

48:47OUTSIDE SEATING. A CHALKBOARD

48:49SIGN THAT LETS EVERYONE KNOW

48:50WHAT OUR SPECIALS ARE FOR THE

48:52WEEK. A BUILDING FEE, A LICENSE

48:55TO OPERATE, A BRANDING FEE TO

48:56LET THE COMMUNITY KNOW WHAT OUR

48:58CAFE IS CALLED AND A YOU NAME

49:00IT TAX. THIS IS ALL ON TOP OF

49:03THE FEDERAL, STATE, COUNTY,

49:05TRIMET AND CITY TAXES TO. THIS

49:08MIGHT NOT SEEM LIKE MUCH, BUT

49:09THE DIFFERENCE IN MY BOTTOM

49:11LINE WOULD FAR OUTWEIGH THE

49:13LOSS AND THE POCKET CHANGE THAT

49:15THE CEO OF A LARGE CONGLOMERATE

49:18CORPORATION WOULD FILL WITH

49:19THIS TAX ORDINANCE. I HEAR

49:23PEOPLE SAY ALL THE TIME THAT

49:24THEY'RE SO GLAD THAT ALI AND I

49:25HAVE DECIDED TO OPEN THIS CAFE

49:27AND BOOKS BOOKSTORE IN THE

49:29GOOSE HOLLOW AREA, AND IT FITS

49:30THE COMMUNITY PERFECTLY. EXCUSE

49:33ME, BUT WE SIMPLY CANNOT

49:35CONTINUE TO MEET THE DEMANDS OF

49:36RISING PRICES, UTILITY BILLS

49:38THAT CONTINUE TO CLIMB MONTHLY,

49:40THE TAXES THAT DEMAND SUCH A

49:42LARGE PORTION OF OUR BOTTOM

49:43LINE. DURING THIS LAST MONTH

49:46ALONE, EVERY SINGLE BILL THAT

49:47WE PAY INCREASED IN COST. OUR

49:50TOTAL INCREASE FOR THE MONTH OF

49:53SEPTEMBER FROM THE MONTH OF

49:54AUGUST WAS A PLUS 5%. WHEN THIS

49:57CONTINUES TO HAPPEN MONTH AFTER

49:59MONTH FOR ALL LOCAL SMALL

50:00BUSINESSES, WE SIMPLY CANNOT

50:02CONTINUE TO OPERATE SOMETHING.

50:05WE WILL HAVE TO GIVE SOMETHING.

50:07SOMETHING WILL HAVE TO GIVE.

50:09MEANWHILE, LARGE, LARGE

50:10COMPANIES LIKE STARBUCKS

50:12CONTINUE TO PAY CEO 1800 TIMES

50:14THE AMOUNT IN WHICH THEY PAY

50:16THEIR MEDIAN WORKER. THAT'S

50:18OUTRAGEOUS. OURS IS ABOUT 1 TO

50:231. WE SHOULD WANT OUR CITY TO

50:25BE WHAT IT ONCE WAS BEFORE THE

50:27PANDEMIC. MY FRIENDS TELL ME

50:28ALL THE TIME THAT THEY STILL

50:29DON'T WANT TO COME DOWNTOWN.

50:31WELL, LET'S GIVE THEM A REASON

50:32TO COME BACK. LET'S BRING BACK

50:34SMALL BUSINESSES. GIVE THE CITY

50:36BACK TO THE PEOPLE. THIS USED

50:38TO BE A PLACE WHERE MY

50:40GENERATION WAS PROUD TO GO.

50:42PORTLAND HAS SO MUCH TO OFFER.

50:44IT'S SO BEAUTIFUL. IT'S SO NICE.

50:48AND THAT IS BECAUSE OF

50:49BUSINESSES LIKE FINGERS AND

50:51TOES, BLUE STAR DONUTS, THE

50:53HOFF CAFE, THE GOOSE HOLLOW WIN

50:55AND NOW BOLD THAT MAKE OUR

50:58COMMUNITY AND THE GOOSE HOLLOW

50:59AREAS A WONDERFUL. YOU HAVE THE

51:02OPPORTUNITY TO BRING BACK SMALL

51:03BUSINESSES AND ALLOW THIS

51:05COMMUNITY TO THRIVE. WHAT

51:07CHOICE WILL YOU MAKE WHILE

51:08EVERYBODY IS WATCHING? I

51:10ALREADY KNOW WHAT THE PEOPLE

51:11WANT. DO YOU? THANK YOU AGAIN

51:14FOR ALLOWING ME TO SPEAK.

51:16>> THANK YOU SO MUCH, TIM. AND

51:19THEN I THINK OUR SECOND AND

51:22LAST PRESENTER IS ONLINE, SARAH

51:26ANDERSON WITH THE GLOBAL. SHE'S

51:28A GLOBAL. SARAH ANDERSON'S A

51:30GLOBAL ECONOMY DIRECTOR AT THE

51:31INSTITUTE FOR POLICY STUDIES.

51:32SO THANK YOU SO MUCH FOR

51:33JOINING US. SARAH, PLEASE

51:35INTRODUCE YOURSELF FOR THE

51:35RECORD.

51:37>> YES, I AM SARAH ANDERSON,

51:39AND FOR OVER 30 YEARS I'VE

51:42CONDUCTED RESEARCH ON EXECUTIVE

51:44COMPENSATION AND CORPORATE TAX

51:46POLICY AT THE INSTITUTE FOR

51:47POLICY STUDIES, A NONPARTISAN

51:49RESEARCH ORGANIZATION IN

51:51WASHINGTON, DC, AND I REALLY

51:54APPRECIATE THIS OPPORTUNITY TO

51:57ONCE AGAIN ENGAGE WITH THE

51:58PORTLAND CITY COUNCIL. BACK IN

52:002016, COUNCILOR STEVE NOVICK

52:03INVITED ME TO PORTLAND TO SHARE

52:05MY ANALYSIS WITH OTHER MEMBERS

52:06OF THE COUNCIL BEFORE THE VOTE

52:08ON HIS PROPOSED CEO PAY RATIO

52:11SURTAX AND MY ANALYSIS OF THAT

52:14ORIGINAL SURTAX WAS THAT IT

52:15WOULD DELIVER MULTIPLE BENEFITS.

52:18ONE, IT WOULD INCENTIVIZE

52:20CORPORATIONS TO NARROW THE PAY

52:22GAPS THAT ARE A KEY DRIVER OF

52:24THE SKYROCKETING INEQUALITY

52:26THAT'S UNDERMINING OUR ECONOMY

52:28AND OUR DEMOCRACY. NUMBER TWO,

52:30IT WOULD GENERATE MUCH NEEDED

52:31REVENUE FOR PUBLIC SERVICES.

52:33AND THREE, IT ALSO ENCOURAGES

52:35SOUND BUSINESS PRACTICES,

52:37BECAUSE EXTENSIVE RESEARCH

52:39SHOWS THAT EXTREMELY WIDE PAY

52:42DIVIDES UNDERMINE PRODUCTIVITY.

52:44THERE'S A HARVARD BUSINESS

52:45SCHOOL STUDY, FOR EXAMPLE, OF

52:481500 FIRMS THAT FOUND THAT

52:49COMPANIES WITH HUGE PAY GAPS

52:51SAW SIGNIFICANTLY HIGHER LEVELS

52:54OF EMPLOYEE DISSATISFACTION AND

52:56TURNOVER AND LOWER SALES. SO

52:58NOW, TEN YEARS LATER, I AM SO

53:01PLEASED TO SEE THAT THIS TAX IS

53:02FUNCTION VERY WELL. THE MAIN

53:05MEASURABLE IMPACT HAS BEEN IN

53:07REVENUE GENERATION, WHICH HAS

53:09AVERAGED ABOUT 5 MILLION A YEAR.

53:11AND, YOU KNOW, IT'S HARD TO

53:13PROVIDE EVIDENCE THAT IT'S HAD

53:15AN IMPACT ON NARROWING PAY GAPS.

53:17OUR GROSSLY UNFAIR COMPENSATION

53:20SYSTEM IS DEEPLY ENTRENCHED.

53:22EVEN I WAS SHOCKED WHEN, AT THE

53:24HEIGHT OF THE PANDEMIC,

53:26CORPORATE BOARDS SHOWERED CEOS

53:28WITH BONUSES TO PROTECT THEM

53:30FROM THE CRISIS WHILE SO MANY

53:32LOW WAGE WORKERS WERE ON THE

53:33FRONT LINES, RISKING THEIR

53:35LIVES TO KEEP OUR ECONOMY GOING.

53:37BUT I KNOW THAT COUNCILOR

53:38NOVICK MAIN INTENT BACK THEN,

53:41IN 2016, WAS ALWAYS TO TO DO

53:43SOMETHING HISTORIC THAT WOULD

53:45SPARK SIMILAR REFORMS IN OTHER

53:47JURISDICTIONS THAT COULD

53:48EVENTUALLY BUILD SUFFICIENT

53:50PRESSURE TO TO MAKE OUR PAY

53:52SYSTEM MUCH MORE EQUITABLE. AND

53:54THE PORTLAND TAX HAS

53:56UNDOUBTEDLY INSPIRED SIMILAR

53:58EFFORTS. SAN FRANCISCO ADOPTED

53:59A PAY RATIO TAX IN 2020, AND

54:02LEGISLATORS HAVE INTRODUCED

54:04SIMILAR BILLS IN AT LEAST TEN

54:06STATES AND ALSO IN THE US

54:08CONGRESS. AND SO AT THIS MOMENT,

54:11AFTER TEN YEARS OF PORTLAND

54:13BRAVELY EXPERIMENTING WITH AN

54:15INNOVATIVE APPROACH AND PROVING

54:17THAT IT WORKS, I THINK

54:20EXPANDING ON THIS SUCCESS BY

54:22ADOPTING THE FAIR SHARE TAX

54:23PROPOSAL MAKES IT A GREAT DEAL

54:25OF SENSE. AND I'LL GIVE YOU

54:27FIVE REASONS. ONE IS THE NEED

54:29FOR REVENUE IS GREAT. YOU ALL

54:31KNOW THE DATA ON PORTLAND MUCH

54:33BETTER THAN I DO. BUT YOUR CITY

54:35IS NOT ALONE IN FACING BUDGET

54:37CHALLENGES, ESPECIALLY AS THE

54:39FEDERAL GOVERNMENT SLASHES

54:40SPENDING. NUMBER TWO, LARGE

54:44CORPORATIONS TODAY IN GENERAL

54:45HAVE A LOT OF MONEY WHILE

54:48WORKING FAMILIES ARE STRUGGLING.

54:49U.S. CORPORATE PROFITS REACHED

54:52A RECORD ANNUALIZED RATE OF

54:53MORE THAN 4 TRILLION IN THE

54:55SECOND QUARTER OF 2026, AND ONE

54:58REASON LARGE CORPORATIONS HAVE

55:00SUCH HIGH PROFIT RATES IS THAT

55:01THEY'RE PAYING RELATIVELY

55:03LITTLE IN TAXES. THE 2017 TAX

55:06REFORM SLASHED THE CORPORATE

55:07TAX RATE FROM 35 TO 21%. THAT

55:11REDUCED FEDERAL REVENUE BY AN

55:13ESTIMATED 1.3 TRILLION OVER A

55:15DECADE. AND WHILE CORPORATIONS

55:17PROMISE TO USE THEIR TAX

55:19WINDFALLS TO RAISE WORKER PAY

55:21INSTEAD, THEY'VE GONE ON A

55:22STOCK BUYBACK SPREE. STOCK

55:25BUYBACKS ARE A PREVIOUSLY

55:28ILLEGAL FINANCIAL MANEUVER THAT

55:30ARTIFICIALLY INFLATES CEOS

55:32STOCK BASED PAY, WHILE

55:34SIPHONING RESOURCES THAT COULD

55:36BE GOING TOWARDS WORKER WAGES

55:37AND OTHER LONG TERM INVESTMENTS.

55:40ONE STUDY BY ECONOMISTS WITH

55:42THE CONGRESSIONAL JOINT

55:43COMMITTEE ON TAXATION FOUND

55:44THAT THE CORPORATE TAX CUT OF

55:472017 SHARPLY BOOSTED EXECUTIVE

55:50COMPENSATION WHILE DOING

55:51NOTHING. I REPEAT, NOTHING TO

55:53INCREASE WAGES FOR WORKERS IN

55:55THE BOTTOM 90%. SO NUMBER THREE,

55:58EXPANDING THE PORTLAND SURTAX

55:59TO INCLUDE MORE BRACKETS, I

56:01THINK MAKES SENSE. THIS WOULD

56:03CAPTURE MORE REVENUE FROM THE

56:05VERY LARGEST CORPORATIONS WITH

56:07THE VERY LARGEST PAY GAPS. IN

56:09OTHER WORDS, THOSE WITH THE

56:10GREATEST ABILITY TO PAY THE

56:12ADJUSTED RATES AND BRACKETS

56:14WOULD ALSO BRING THE PORTLAND

56:16TAX MORE CLOSELY IN LINE WITH A

56:18FEDERAL BILL CALLED THE TAX

56:20EXCESSIVE CEO PAY ACT,

56:21INTRODUCED IN THE US SENATE AND

56:23THE HOUSE. OREGON SENATOR JEFF

56:26MERKLEY, RANKING MEMBER OF THE

56:27SENATE BUDGET COMMITTEE, IS A

56:29CO-SPONSOR OF THIS BILL, AND

56:31SENATOR BERNIE SANDERS IS THE

56:32LEAD SPONSOR IN BOTH THE FAIR

56:35SHARE TAX PROPOSAL. AND IN THIS

56:37FEDERAL BILL, THE SURTAX KICKS

56:39IN WITH A FAIRLY MODEST RATE ON

56:41COMPANIES WITH PAY RATIOS

56:44BETWEEN 50 AND 70 5 TO 1. AND

56:46THEN THERE ARE SEVERAL MORE

56:47BRACKETS, WITH THE TOP ONE

56:48BEING FOR COMPANIES PAYING

56:50THEIR CEOS MORE THAN 500 TIMES

56:52THEIR MEDIAN WORKER PAY. AND

56:55JUST TO BE CONCRETE, I'LL

56:56RATTLE OFF AN INCOMPLETE LIST

56:59OF COMPANIES THAT OPERATE IN

57:01PORTLAND AND HAD PAY GAPS IN

57:032025, FAR IN EXCESS OF 500 TO 1.

57:06YOU'VE ALREADY HEARD ABOUT

57:08STARBUCKS, BUT IT'S ALSO BEST

57:09BUY, CHIPOTLE, DOLLAR TREE,

57:12MCDONALD'S, TARGET, AND WELLS

57:14FARGO. AND I JUST THINK IF THEY

57:16CAN AFFORD TO PAY THEIR CEOS

57:18HUNDREDS AND SOMETIMES EVEN

57:19MORE THAN A THOUSAND TIMES

57:20THEIR TYPICAL EMPLOYEE, THEY

57:22CAN AFFORD THIS MODEST TAX ON

57:24THEIR PORTLAND PROFITS. AND

57:26KEEP IN MIND THAT THIS IS

57:27REALLY A VOLUNTARY TAX, RIGHT?

57:29THEY YOU'RE GIVING COMPANIES A

57:31CHOICE. THEY CAN EITHER HANG ON

57:34TO THEIR HUGE PAY GAPS AND

57:35CONTRIBUTE MORE TO YOUR LOCAL

57:37PUBLIC SERVICES, OR THEY CAN

57:39NARROW THEIR GAPS BY LIFTING UP

57:41WORKER PAY AND REINING IN CEO

57:43PAY TO TO SO THAT THE RATIOS

57:46BELOW 50 TO 1. AND THEN THEY

57:48WOULDN'T OH ANOTHER DIME. ALSO,

57:50KEEP IN MIND THAT THIS SURTAX

57:51ONLY APPLIES TO COMPANIES THAT

57:53ARE TURNING A PROFIT IN THEIR

57:55PORTLAND OPERATIONS. AND SO I

57:57THINK, AS COUNCILOR GREEN SAID,

57:59IF THEY RESPONDED TO THE TAX BY

58:01LEAVING THE CITY, THEY WOULD BE

58:03FORFEITING PROFITS. AND AS

58:05STEVE NOVICK WROTE BACK IN 2016,

58:07IT WOULD BE ABSURD FOR WELLS

58:09FARGO TO CLOSE PROFITABLE

58:12BRANCHES IN PORTLAND JUST

58:13BECAUSE THEY'VE BECOME SLIGHTLY

58:15LESS PROFITABLE. THE

58:18INTRODUCTORY PRESENTATION ALSO

58:20ADDRESSED THE CONCERN THAT

58:22CORPORATIONS WOULD PASS ON THIS

58:23TAX TO CUSTOMERS BY RAISING

58:25PRICES, THAT HE MADE SOME VERY

58:27GOOD POINTS. I'LL JUST ADD THAT,

58:29YOU KNOW, IF STARBUCKS TRIES TO

58:31DO THAT, I WISH THEM GOOD LUCK

58:33IN COMPETING AGAINST THE MANY

58:34WONDERFUL INDEPENDENT CAFES IN

58:36PORTLAND LIKE THE ONE RUN BY

58:38THE THE PERSON WHO JUST

58:39TESTIFIED. NUMBER FOUR,

58:42EXPANDING THE PORTLAND SURTAX

58:43WOULD BE POPULAR. VERY POPULAR.

58:47ONE NATIONAL POLL ASKED PEOPLE

58:49THEIR VIEWS ON A TAX HIKE ON

58:52CORPORATIONS WITH PAY GAPS OF

58:53MORE THAN 50 TO 1. OVERALL, 80%

58:57OF LIKELY VOTERS FAVORED SUCH

58:59TAXES, INCLUDING 89% OF

59:01DEMOCRATS AND 71% OF

59:04REPUBLICANS. SO THIS IS NOT A

59:05PARTIZAN ISSUE. AND THEN

59:07FINALLY, I THINK THE PROPOSALS

59:08TAX RELIEF FOR SMALL BUSINESSES

59:11IS A PRACTICAL ADDITION THAT

59:13WOULD HELP LEVEL THE PLAYING

59:15FIELD WITH LARGE CORPORATIONS

59:17THAT CAN HIRE ARMIES OF LAWYERS

59:20AND ACCOUNTANTS TO EXPLOIT

59:22EVERY LOOPHOLE IN OUR TAX CODE,

59:25INCLUDING HIDING PROFITS IN

59:26OVERSEAS TAX HAVENS. AND THAT'S

59:28SOMETHING THAT SMALL BUSINESSES

59:30OBVIOUSLY CAN'T DO. AND SO FOR

59:32ALL THESE REASONS AND AND MAYBE

59:34SOME I'VE LEFT OUT, I WOULD

59:35STRONGLY ENCOURAGE SUPPORT FOR

59:37THIS PROPOSAL. I THINK THROUGH

59:38THE FAIR SHARE TAX, PORTLAND

59:40WOULD HAVE MORE REVENUE TO

59:42INVEST IN A HEALTHY COMMUNITY

59:44WHILE ALSO EMBOLDENING THE KIND

59:46OF ACTION WE NEED AROUND THE

59:48COUNTRY TO TACKLE THE DANGEROUS

59:50LEVELS OF INEQUALITY THAT ARE

59:52FRAYING OUR SOCIAL FABRIC AND

59:55UNDERMINING OUR ECONOMY. AND

59:56I'LL END THERE. THANK YOU VERY

59:57MUCH.

59:59>> THANK YOU SO MUCH FOR YOUR

1:00:00TIME, SARAH, AND YOUR

1:00:01DEDICATION TO THE MIDDLE CLASS

1:00:03AND WORKING CLASS IN AMERICA

1:00:06INTERNATIONALLY, FRANKLY. OKAY,

1:00:08SO AT THIS TIME, I THINK WE

1:00:10HAVE A COUPLE MINUTES FOR

1:00:11TECHNICAL QUESTIONS, AND THEN

1:00:13WE MOVE INTO A LARGE VOLUME OF

1:00:15PUBLIC TESTIMONY.

1:00:17>> THANK YOU FOR THE

1:00:18PRESENTATION TO THE PRIMARY

1:00:20CO-SPONSORS HERE. COLLEAGUES,

1:00:22PLEASE FEEL FREE TO JUMP IN THE

1:00:24QUEUE FOR TECHNICAL QUESTIONS.

1:00:25THIS IS ALSO TIME TO FLOAT ANY

1:00:26AMENDMENTS YOU MAY HAVE. I'D

1:00:28ASK YOU TO KEEP IT TO THOSE TWO

1:00:30THINGS, BECAUSE WE DO HAVE A

1:00:31HIGH VOLUME OF TESTIMONY. WE'LL

1:00:33GO TO COUNCILOR SMITH FOLLOWED

1:00:34BY COUNCILOR ZIMMERMAN.

1:00:35>> THANK YOU. QUICK QUESTION.

1:00:36ARE WE GOING TO REDUCE THE

1:00:38AMOUNT OF TIME FOR TESTIMONY?

1:00:40IS THAT GOING TO GO FROM 3

1:00:42MINUTES TO 2 MINUTES? WE HAVE

1:00:43SUCH A LARGE GROUP OF FOLKS TO

1:00:46SPEAK.

1:00:47>> NO, AS AS MENTIONED AT THE

1:00:48TOP, THAT'S NOT THE PLAN AT THE

1:00:50PRESENT TIME.

1:00:51>> SO HOW MANY MINUTES ARE THEY

1:00:52GOING TO SPEAK?

1:00:53>> THREE AS PER USUAL.

1:00:55>> OKAY.

1:00:57>> THANKS. COUNCILOR SMITH.

1:00:58COUNCILOR ZIMMERMAN FOLLOWED BY

1:00:59NOVICK.

1:01:00>> THANK YOU, COUNCILOR GREENE.

1:01:01THANKS FOR THE PRESENTATION. I

1:01:02THERE WAS ONE POINT I LOST

1:01:04TRACK A LITTLE BIT THAT YOU

1:01:05WERE MAKING, AND IT WAS, I

1:01:08THINK ON THE SLIDE ABOUT YOU

1:01:10WERE TALKING ABOUT THE

1:01:11FIDUCIARY RESPONSIBILITY TO NOT

1:01:13LEAVE PORTLAND. AND I KIND OF

1:01:15GOT MIXED UP IN YOUR WHAT YOUR

1:01:17CAN YOU JUST SAY THAT AGAIN

1:01:18BECAUSE IT SOUNDED IMPORTANT?

1:01:20>> YEAH. NO, I APPRECIATE THAT.

1:01:21SOMETIMES I CAN GO A LITTLE

1:01:23FAST ON SOME OF THOSE POINTS.

1:01:24>> AS A NON PHD HOLDER, I DO

1:01:26NEED THE MBA VERSION.

1:01:27>> OKAY, HERE'S THE MBA VERSION.

1:01:30CORPORATE GOVERNANCE, GENERALLY

1:01:31SPEAKING, CORPORATE GOVERNANCE,

1:01:32THE PRINCIPLES OF GOOD

1:01:35CORPORATE GOVERNANCE IS THAT

1:01:36YOUR CEO AND FRANKLY, YOUR

1:01:38BOARD OF DIRECTORS HAS A

1:01:40FIDUCIARY RESPONSIBILITY TO THE

1:01:41SHAREHOLDER OF THE FIRM TO

1:01:43INCREASE SHAREHOLDER VALUE AND

1:01:44TO PROTECT THE THE ASSETS OF

1:01:47THE CORPORATION, BECAUSE THE

1:01:49SHAREHOLDERS ARE THE ONES THAT

1:01:50OWN THE CORPORATION. AND SO IF

1:01:52YOU DO SOMETHING THAT REDUCES

1:01:54PROFITS, THEN YOU'RE NOT

1:01:57WORKING IN THE INTERESTS OF

1:01:58SHAREHOLDERS. AND SO THE

1:01:60ARGUMENT THAT WE'RE MAKING IS

1:02:01THAT BECAUSE THESE ARE TAXES ON

1:02:02PROFITS, THAT EVEN IF IT'S A 5%

1:02:06PROFIT OR 10% OR EVEN A 15% TAX,

1:02:10THEY'RE STILL PROFITS, RIGHT?

1:02:12SO EVEN IF THERE WAS A DOLLAR

1:02:13PROFIT LEFT AFTER THIS, WHICH

1:02:15WOULD BE KIND OF A REDUCTIO AD

1:02:16ABSURDUM EXAMPLE, TECHNICALLY

1:02:19SPEAKING, YOU'RE REDUCING

1:02:20PROFITS BY SAYING, YOU KNOW

1:02:21WHAT, WE'RE GOING TO TAKE OUR

1:02:23BALL AND GO HOME BECAUSE WE

1:02:24DON'T LIKE THE TAX.

1:02:25>> THIS IS ABOUT LEAVING THE

1:02:27IDEA OF LEAVING PORTLAND.

1:02:28>> YEAH. SORT OF TURNING THE

1:02:29APP OFF FOR PORTLAND FOR AMAZON

1:02:31WOULD BE A CONCRETE EXAMPLE. SO

1:02:34IF THERE'S PROFITS TO BE MADE,

1:02:36THEY SHOULD BE STAYING IN THAT

1:02:38MARKET EVEN IF THEY'RE MAKING

1:02:39FEWER PROFITS. AND THAT'S THAT

1:02:40WAS THE POINT I WAS TRYING TO

1:02:42MAKE ON FIDUCIARY

1:02:43RESPONSIBILITY.

1:02:43>> GREAT. AND THE SLIDE BEFORE

1:02:45THAT WAS TALKING ABOUT THE 25%,

1:02:46THE 100% BASED ON THOSE RATIOS.

1:02:48AND I WANT TO MAKE SURE I

1:02:49UNDERSTAND IT. IT WAS TOWARD

1:02:51THE END, YOU MADE IT CLEAR, BUT

1:02:52IT'S 25% ADDITIONAL ON THE 2.6.

1:02:55AM I UNDERSTANDING THAT?

1:02:57>> YEAH, IT'S A 25. SO IF I'M

1:02:59LOOKING AT THE 50 TO 75 TRANCHE,

1:03:02THE FIRST ONE, IT WOULD SAY, IF

1:03:04YOU'RE IN THAT BUCKET, THEN

1:03:06YOUR BUSINESS LICENSE TAX GOES

1:03:08UP BY 25%. SO THAT GOES FROM

1:03:112.6 TO AN EFFECTIVE RATE OF

1:03:153.25.

1:03:15>> GOT IT. NOT A 25% TAX.

1:03:17>> CORRECT.

1:03:18>> GREAT. AND THEN THE LAST

1:03:19TECHNICAL QUESTION, YOU USED

1:03:21STARBUCKS IN THE MEDIAN INCOME.

1:03:23THERE WAS 17,000. IT I HADN'T

1:03:26THOUGHT OF IT UNTIL I SAW IT,

1:03:28BUT THE LANGUAGE AROUND THE WAY

1:03:30THAT THIS IS WRITTEN, IT'S

1:03:31BASED ON EMPLOYEE AND NOT BASED

1:03:33ON FULL TIME EMPLOYEES, BECAUSE

1:03:35I'M KIND OF MAKING AN

1:03:36ASSUMPTION IN THAT THAT THERE'S

1:03:37A LOT OF PART TIME. SO CAN YOU

1:03:39JUST CLARIFY? SO I'M WORKING

1:03:41FROM THE SAME SET OF NUMBERS

1:03:42HERE.

1:03:43>> IT'S A. SO WHEN YOU REPORT

1:03:45TO THE SEC, YOUR 10-K FILINGS

1:03:48AND WHATEVER SORT OF K FILINGS

1:03:50YOU HAVE UNDER DODD-FRANK AS A

1:03:53PUBLICLY TRADED CORPORATION, IF

1:03:56YOU'RE SUBJECT TO THAT

1:03:57REGULATION, YOU HAVE TO REPORT

1:03:58YOUR CEO TO MEDIAN SALARY

1:04:02RATIOS. SO THOSE RATIOS ARE

1:04:03REPORTED JUST DIRECTLY TO THE

1:04:04FEDERAL GOVERNMENT. AND IF THE

1:04:07FIRM EMPLOYS A WHOLLY PART TIME

1:04:11EMPLOYEES, IT'S JUST THE TOTAL

1:04:12COST OF THEIR LABOR DIVIDED BY

1:04:14THEIR NUMBER OF EMPLOYEES. AND

1:04:16SO, YEAH, I MEAN, YOU MIGHT OF

1:04:18COURSE, YOU CAN HAVE PART TIME,

1:04:20LOW WAGE EMPLOYEES, SORT OF

1:04:22CASUAL EMPLOYEES DRAWING THAT

1:04:23DOWN, BUT THAT'S STILL THE

1:04:25MEDIAN SALARY FOR THOSE WORKERS.

1:04:28AND FOR SOME FIRMS THAT ARE

1:04:29VERTICALLY INTEGRATED, WHERE

1:04:30THEY'RE REPORTING LABOR INCOME

1:04:32FROM OVERSEAS, WHERE PEOPLE ARE

1:04:34MAKING A COUPLE DOLLARS A DAY,

1:04:36THAT WOULD THEN PULL THAT DOWN

1:04:37AS WELL.

1:04:38>> OKAY, THANKS. THAT'S ALL THE

1:04:39TECHNICAL.

1:04:39>> APPRECIATE IT.

1:04:41>> THANK YOU. COUNCILOR.

1:04:41ZIMMERMAN. COUNCILOR. NOVICK.

1:04:43>> THANK YOU, MR. PRESIDENT. SO

1:04:46I DON'T KNOW IF IT'S POSSIBLE

1:04:47TO ANSWER THIS QUESTION, BUT I

1:04:49WAS WE CAN'T KNOW HOW MUCH IN

1:04:51TAX ANY INDIVIDUAL COMPANY PAID.

1:04:53BUT I'M CURIOUS IF WE KNOW,

1:04:55LIKE HOW MUCH IN THE CURRENT

1:04:57BUSINESS LICENSE TAX, LIKE EACH

1:04:59OF THE TOP TEN COMPANIES PAID

1:05:01OR SOMETHING LIKE THAT WITHOUT

1:05:02IDENTIFYING THEM. AND THE

1:05:04REASON I'M ASKING THAT IS THAT

1:05:07RECENTLY THERE WAS A SAN

1:05:09FRANCISCO TRIED TO INCREASE ITS

1:05:10PAY RATIO TAX AND WENT TO THE

1:05:12BALLOT AND IT LOST. WE'RE NOT

1:05:14TALKING ABOUT GOING TO THE

1:05:15BALLOT, BUT I'M JUST KIND OF

1:05:16WONDERING, WILL THE TOP PAYERS

1:05:19BE PAYING ENOUGH EXTRA THAT IT

1:05:20MIGHT BE WORTH THEIR WHILE TO

1:05:21REFER IT TO BALLOT AND FIGHT IT

1:05:23OUT THERE?

1:05:25>> YOU KNOW, I, I WONDER IF

1:05:28PETER MIGHT I DON'T KNOW IF

1:05:29YOU'RE ALLOWED TO TALK ABOUT

1:05:31THIS, BUT THERE IS SOME PART OF

1:05:32YOUR ANALYSIS THAT I THINK

1:05:34LOOKED AT SOME POTENTIALLY

1:05:36LARGE FIRMS KIND OF EXITING THE

1:05:38TAX LIABILITY THAT MIGHT BE

1:05:40ABLE TO GET TOWARDS COUNCILOR.

1:05:41NOVICK QUESTION.

1:05:42>> AND COUNCILOR GREEN. I JUST

1:05:43WANT TO FLAG THAT SARAH IS ALSO

1:05:45STILL ONLINE AVAILABLE TO

1:05:46ANSWER QUESTIONS.

1:05:47>> OKAY.

1:05:50>> THANK YOU FOR THE QUESTION.

1:05:51FOR THE RECORD, JONAS BIERY,

1:05:52THE CITY CHIEF FINANCIAL

1:05:53OFFICER AND PETER CAN HELP

1:05:55ANSWER AS WELL. I WILL JUST

1:05:56START BY SAYING FIRST, THERE

1:05:59PROBABLY IS A BROAD LITIGIOUS

1:06:02RISK. WE KNOW THERE'S CURRENTLY

1:06:05SOME REVENUE RELATED LITIGATION

1:06:06OUT THERE. SO SO THAT'S JUST

1:06:08SOMETHING TO BE AWARE OF. WE

1:06:10ALSO WANT TO ALSO JUST SAY THAT

1:06:13LEGALLY WE'RE NOT ALLOWED, I

1:06:14THINK, AS YOU KNOW, TO TALK

1:06:16ABOUT SPECIFIC TAXPAYERS. BUT

1:06:18WE DO HAVE SOME ANALYSIS, AT

1:06:20LEAST OF KIND OF THE TOP LEVEL

1:06:22OF, OF THE DISTRIBUTION OF

1:06:23POTENTIAL PAYERS. AND IT IS

1:06:24HEAVILY, HEAVILY WEIGHTED

1:06:26TOWARDS THE HIGHER END OF, OF

1:06:28THOSE LARGER COMPANIES. SO WE

1:06:31CAN TALK A LITTLE BIT ABOUT

1:06:32NUMBERS. I'LL JUST SAY

1:06:33GENERALLY, I THINK THAT IS A

1:06:35REALISTIC POSSIBILITY THAT THAT

1:06:37THOSE LARGE FOLKS, AS WAS

1:06:38REFERENCED TO HAVE ACCESS TO,

1:06:40YOU KNOW, LARGE LEGAL TEAMS

1:06:42COULD COULD CHOOSE TO TAKE

1:06:43ACTION. BUT WE DON'T HAVE ANY

1:06:44LENS ON OBVIOUSLY, THE

1:06:46PROBABILITY OF THAT HAPPENING.

1:06:48>> WHAT I WAS WONDERING IS, CAN

1:06:50WE SAY THAT THERE'S LIKE TEN

1:06:51COMPANIES THAT CURRENTLY EACH

1:06:53PAY $1 MILLION IN THE BUSINESS

1:06:55LICENSE TAX? SO THEIR TAX

1:06:57INCREASE WOULD BE X MILLION A

1:06:59PIECE?

1:07:00>> YES, WE CAN. AND WE CAN GET

1:07:02YOU THE MORE DETAILED NUMBERS

1:07:03LIKE BRACKETED SUCH THAT IT

1:07:05DOESN'T LET THINGS OUT IN THE

1:07:08MEMO THAT YOU LIKELY RECEIVED,

1:07:12WE PULLED OUT JUST THE TOP TWO

1:07:14PROJECTED PAIRS BASED ON LIKE

1:07:15WHAT THEY WOULD BE PAYING. AND

1:07:19IT IS A SIGNIFICANT PORTION OF

1:07:22THE TOTAL IS BASICALLY THEIR

1:07:25LIABILITY OF JUST A HANDFUL OF

1:07:26PAYERS MEANS THAT THEIR YEAR TO

1:07:30YEAR LIABILITY IS NORTH OF 5

1:07:33MILLION. AND SO WHEN YOU

1:07:34MULTIPLY IT BY FIVE, IT MAKES

1:07:36UP A LARGE PORTION OF THE

1:07:38ESTIMATED 82 OR SO MILLION.

1:07:40>> I'M SORRY, I CONFESS I

1:07:42DIDN'T READ THE MEMO. YOU'RE

1:07:43SAYING THAT THERE'S AT LEAST

1:07:45TWO TAXPAYERS THAT CURRENTLY

1:07:46ARE PAYING $5 MILLION A YEAR

1:07:48CURRENTLY.

1:07:50>> YES. THE THAT ON ANY GIVEN

1:07:53YEAR, WE. AND IT MAY NOT BE THE

1:07:55SAME TAXPAYER YEAR TO YEAR, BUT

1:07:58ON LAST YEAR, WE HAD ONE

1:08:00TAXPAYER PAY OVER 20 MILLION.

1:08:03>> GOOD LORD, THANK YOU.

1:08:05>> AND SORRY, I JUST WANT TO

1:08:06MAKE SURE TO BE CLEAR ABOUT

1:08:08THAT TOO, THAT AS PETER

1:08:09MENTIONED, THE, YOU KNOW, THAT

1:08:10MATRIX OF WHO PAYS, WHAT

1:08:11CHANGES AND IS A SOURCE OF

1:08:14VOLATILITY, RIGHT? SO, SO THE

1:08:17INDIVIDUAL TAXPAYER BEHAVIOR

1:08:18LAST YEAR MAY BE SIGNIFICANTLY

1:08:20DIFFERENT THAN INDIVIDUAL

1:08:21TAXPAYER BEHAVIOR NEXT YEAR OR

1:08:23IN THE FUTURE. AND THAT

1:08:25OBVIOUSLY IS FELT MUCH MORE.

1:08:27THE IMPACT IS MUCH LARGER AT

1:08:28THAT AT THAT HIGHER SCALE.

1:08:32>> THANK YOU. AND OH, WERE YOU.

1:08:35>> ACTUALLY HAD ANOTHER SORT OF

1:08:37TECHNICAL QUESTION? DO WE KNOW

1:08:38HOW MANY PEOPLE THOSE 18,000

1:08:41SMALL BUSINESSES EMPLOY? AND I

1:08:42HAVE TO SAY, I HAVE NO IDEA.

1:08:44FOR ALL I KNOW, IT COULD BE

1:08:45300,000. IT COULD BE 18,000.

1:08:48>> I DON'T HAVE THAT NUMBER.

1:08:49IT'S AT LEAST 18,000.

1:08:51>> NO. THANK YOU.

1:08:55>> THANK YOU. COUNCILOR. NOVICK

1:08:56THAT. COUNCILOR ZIMMERMAN AND

1:08:57THEN WE'LL GO.

1:08:58>> TO CHAIR BECAUSE YOU ASKED

1:08:59ABOUT LIKE AMENDMENTS AND IDEAS.

1:09:01I JUST THERE'S A QUESTION ABOUT

1:09:02THE VOLATILITY THAT IS IN THE

1:09:05IN THE ROOM A LITTLE BIT AND

1:09:07WHAT IS ON MIND FOR ME, AND I'M

1:09:09JUST KIND OF THINKING THROUGH

1:09:10IS WHAT A WHAT A PHASED IN

1:09:13APPROACH OF THE REDUCTION FOR

1:09:15THOSE 18,000 WOULD LOOK LIKE.

1:09:17SO WE COULD UNDERSTAND THE

1:09:19PREDICTABILITY OF THAT

1:09:20VOLATILITY A LITTLE BIT MORE.

1:09:20SO I WANTED I WANTED TO POSE

1:09:22THAT OUT THERE, NOT FOR A

1:09:24RESPONSE NOW, BUT LIKE THINKING

1:09:25THROUGH LIKE YOU DID A BIG

1:09:27CHUNK OF WHO WOULD GET REDUCED

1:09:28AT THE SAME TIME, WHO WOULD GET

1:09:30INCREASED. AND THAT'S INSERTED

1:09:32SOME QUESTION MARKS. BUT I'M

1:09:35THINKING THROUGH IN TERMS OF

1:09:36WHAT THAT WOULD MEAN IF WE

1:09:38PHASED IN THE REDUCTIONS, AS WE

1:09:41UNDERSTOOD IN THE TREND LINE.

1:09:42SO I JUST WANTED YOU TO KNOW

1:09:44THAT AS A SPONSOR.

1:09:45>> YEAH, I ACTUALLY I'M GLAD

1:09:46YOU ASKED THAT QUESTION BECAUSE

1:09:47IT'S A LITTLE IT'S A DETAIL I

1:09:49DIDN'T PUT IN THE PRESENTATION.

1:09:50WE'VE STRUCTURED THE ORDINANCE

1:09:52TO SAY WE DON'T PHASE IN THE

1:09:54EXEMPTION UNTIL THE YEAR

1:09:55FOLLOWING, WHEN WE START TO

1:09:57COLLECT THE INCREMENTAL NEW

1:09:58REVENUE. SO THAT MITIGATES THAT

1:10:00RISK. AND THEN JUST ADD A FINER

1:10:02POINT ON PETER'S PIECE THERE.

1:10:05HIS ANALYSIS GOT US DOWN TO $33

1:10:07MILLION NET, RATHER THAN THE 72

1:10:09THAT WE INITIALLY ESTIMATED,

1:10:11BECAUSE HE DID PULL OUT THOSE

1:10:12TWO HIGHLY VOLATILE ONES AND

1:10:14SAY, LET'S ASSUME THAT THESE

1:10:16ONES SOMEHOW ARE NOT PAYING

1:10:18THAT TAX, SO THAT THAT DOES

1:10:20TAKE A RISK ADJUSTED APPROACH

1:10:22AND SAY, IN THE ABSENCE OF

1:10:23PERFECT INFORMATION IN THE

1:10:24FUTURE, THIS IS A REASONABLE

1:10:25WAY WE MIGHT WANT TO THINK

1:10:27ABOUT THAT RISK. THERE'S OTHER

1:10:28RISKS, OF COURSE, TOO. AND

1:10:29THAT'S OUR JOB TO EVALUATE. SO

1:10:31I APPRECIATE THE QUESTION.

1:10:34>> THANK YOU. REBECCA, WILL YOU

1:10:36PLEASE CALL THE FIRST PANEL OF

1:10:37TESTIFIERS?

1:10:40>> I WILL CALL TESTIFIERS IN

1:10:42GROUPS OF FIVE. AND JUST A

1:10:44REMINDER TO EVERYONE, WHEN YOU

1:10:46HEAR YOUR NAME, YOU CAN

1:10:47APPROACH THE TESTIMONY TABLE.

1:10:49THERE IS A THREE MINUTE TIMER

1:10:50THAT YOU'LL SEE ON THE SCREEN

1:10:52IN FRONT OF YOU ON THE FLOOR,

1:10:54AND YOU'LL HEAR TWO CHIMES. THE

1:10:56FIRST ONE MEANS YOU HAVE 30S

1:10:58LEFT. THE SECOND ONE MEANS YOUR

1:10:59TIME IS UP. AND LET'S GET

1:11:03STARTED. WE HAVE FIRST UP,

1:11:06BRIAN, FRANK, JENNA, GOLDEN,

1:11:10MICHAEL JURKOWSKI, ALI BEAUDOIN,

1:11:14AND TYLER FELLINI.

1:11:15>> ALL RIGHT. AND AS FOLKS ARE

1:11:17COMING UP, JUST A COUPLE QUICK

1:11:18HOUSEKEEPING NOTES. IF YOU'RE

1:11:19NOT SURE WHO GOES FIRST,

1:11:21WHOEVER'S WHOEVER HITS THE SEAT

1:11:23FIRST, PLEASE GO FIRST. AND IF

1:11:26WE EVERYONE WERE TO TAKE THE

1:11:27FULL THREE MINUTES WOULD BE A

1:11:29LITTLE OVER TIME. SO TAKE YOUR

1:11:30THREE MINUTES IF YOU WANT IT.

1:11:32BUT IF YOU DON'T, DON'T FEEL A

1:11:33NEED TO FILL IT. IF YOU GOT 15

1:11:35SECONDS LEFT, WE'LL TAKE THEM

1:11:37BACK AND MAKE SURE THAT SOMEONE

1:11:38AT THE END OF THE LIST HAS

1:11:40THEIR FULL TIME TAKE IT AWAY

1:11:41PERSON TO MY RIGHT. THANKS.

1:11:43>> MEMBERS OF THE COMMITTEE. MY

1:11:44NAME IS BRIAN FRANK. I LIVE IN

1:11:46NORTHEAST PORTLAND, AND I'VE

1:11:47BEEN A RESIDENT OF D2 FOR 23

1:11:49YEARS. I'M ALSO AN ACCOUNTANT

1:11:50WHO HAS THE PRIVILEGE OF

1:11:51WORKING WITH HUNDREDS OF

1:11:52PORTLAND BUSINESSES, FILING

1:11:53THOUSANDS OF TAX RETURNS. WE'RE

1:11:55TALKING ABOUT TODAY. I'M DOWN

1:11:56WITH THE B'S, IF YOU KNOW WHAT

1:11:58I MEAN. MY EXPERIENCE WORKING

1:12:00WITH OUR INCREDIBLE SMALL

1:12:01BUSINESS COMMUNITY INSPIRED ME

1:12:04TO CO-FOUND PORTLAND BUSINESSES

1:12:05FOR ALL EARLIER THIS YEAR.

1:12:07WE'RE A NEW ALL VOLUNTEER GROUP.

1:12:08IN THE LAST FEW MONTHS, WE HAVE

1:12:10MORE THAN 60 LOCAL BUSINESSES

1:12:11WHO HAVE JOINED US ADVOCATING

1:12:13FOR AN INCLUSIVE, COMPASSIONATE

1:12:15AND EFFECTIVE CITY. SO ON

1:12:17BEHALF OF MY BUSINESS AND

1:12:18PORTLAND BUSINESSES FOR ALL,

1:12:20I'M HERE IN SUPPORT OF THE FAIR

1:12:21SHARE TAX. THIS PROPOSAL WOULD

1:12:24REDUCE BURDENS ON THE TYPE OF

1:12:26BUSINESSES I WORK WITH EVERY

1:12:27DAY. MICRO ENTREPRENEURS WHO

1:12:29ARE JUST GETTING STARTED

1:12:31CRAFTSPEOPLE, CARPENTERS,

1:12:32MAKERS, HEALTH AND WELLNESS

1:12:33PROVIDERS, NANNIES FOR OUR KIDS,

1:12:35AND A HOST OF CONTENT EXPERTS

1:12:37AND SERVICE PROVIDERS THAT GIVE

1:12:39PORTLAND ITS SPECIAL FLAVOR. SO

1:12:41I'M WONDERING HOW MANY OF YOU

1:12:42HERE HAVE FRIENDS OR NEIGHBORS

1:12:44RUNNING BUSINESSES THAT WILL

1:12:45BENEFIT FROM THIS CHANGE?

1:12:48SERIOUSLY, I'M GUESSING EVERY

1:12:49SINGLE PERSON IN THIS ROOM, HOW

1:12:51MANY OF YOU KNOW ONE OF THE 405

1:12:53WEALTHY CEOS WHO SKYROCKETING

1:12:56WAGES ARE DRIVING THIS

1:12:57ADDITIONAL SURCHARGE? I'M

1:12:59GUESSING NOT MORE THAN A

1:12:59HANDFUL OF PEOPLE HERE. IF

1:13:01ANYONE. WHAT A STARK CHOICE. WE

1:13:03CAN REDUCE ONE OF THE MANY

1:13:05BURDENS ON SMALL BUSINESSES

1:13:06HERE AND HAVE A MORE

1:13:07SUSTAINABLE BUDGET. SUPPORTING

1:13:09FIRE DEPARTMENTS, PARKS, CITY

1:13:11PROGRAMS THAT HELP ACTUAL

1:13:12PORTLAND OWNED AND OPERATED

1:13:14BUSINESSES. OR WE CAN KEEP ON

1:13:16IGNORING WEALTH DISPARITIES

1:13:17THAT WOULD MAKE THE ROBBER

1:13:18BARONS OF THE GILDED AGE BLUSH

1:13:21FOR FEAR OF BEING PUNISHED FOR

1:13:22SEEKING A DIME OF

1:13:23ACCOUNTABILITY FROM BIG

1:13:25BUSINESSES. MULTINATIONALS LIKE

1:13:27TESLA CORRUPTING OUR POLITICS,

1:13:28COMPANIES LIKE STARBUCKS THAT

1:13:30ARE PUSHING OUT LOCAL COFFEE

1:13:31SHOPS AND BAKERIES, AND

1:13:33MONOPOLISTS LIKE AMAZON, WHO IS

1:13:34MOST LIKELY THE NUMBER ONE

1:13:35COMPANY WE'RE TALKING ABOUT

1:13:36EARLIER WHO HAVE BEEN CRUSHING

1:13:38MAIN STREET BUSINESSES FOR MOST

1:13:40OF OUR LIVES. THESE SAME

1:13:41COMPANIES JUST GOT A MASSIVE

1:13:43PERMANENT WINDFALL FROM TRUMP'S

1:13:45CORPORATE TAX CUTS HERE, TOO,

1:13:46Y'ALL. OUR CITIES CONFORMITY

1:13:48WITH FEDERAL CHANGES,

1:13:50PARTICULARLY THE EXPANSION OF

1:13:51BONUS DEPRECIATION, JUST GAVE

1:13:53THESE SAME BIG BUSINESSES A

1:13:54HUGE TAX BREAK HERE IN PORTLAND,

1:13:56$33 MILLION ANNUALLY, ACCORDING

1:13:57TO THE CITY'S BUDGET DIRECTOR

1:13:58REPORT, WHICH I READ LAST WEEK.

1:14:02TODAY YOU'RE GOING TO HEAR

1:14:03OPPONENTS SAY THIS TAX WILL

1:14:04LEAD TO BUSINESSES LEAVING

1:14:06PORTLAND. I HATE TO GET ALL

1:14:08ACCOUNTANT SPEAKY ON Y'ALL, BUT

1:14:09DO YOU UNDERSTAND THAT THIS TAX

1:14:11CODE USES MARKET BASED SOURCING?

1:14:14SO IT'S BASED ON YOUR VOLUME OF

1:14:15SALES IN PORTLAND. HAVING A

1:14:18REGIONAL OFFICE HERE HAS LITTLE

1:14:19TO NO IMPACT ON SUBJECTIVITY.

1:14:21DO YOU SERIOUSLY BELIEVE

1:14:23COCA-COLA AND PGE ARE GOING TO

1:14:24STOP SELLING SODA AND POWER

1:14:26HERE TO SAVE A BUCK ON TAXES?

1:14:28YOU MIGHT WANT TO TALK TO AN

1:14:29ACCOUNTANT BEFORE FEAR

1:14:30MONGERING. THE CLAIM THAT THE

1:14:32FAIR SHARE TAX WILL HURT THE

1:14:33LOCAL ECONOMY IS, AT BEST, LONG

1:14:35DEBUNKED TRICKLE DOWN ECONOMICS

1:14:37AND AT WORST, A BETRAYAL OF

1:14:3818,000 LOCAL BUSINESSES THAT

1:14:40HELP MAKE PORTLAND SO SPECIAL.

1:14:42D2 REP'S COUNCILOR RYAN, PLEASE

1:14:43BE A CHAMPION FOR LOCAL BIZ

1:14:45RATHER THAN REAGANOMICS. I'LL

1:14:48LEAVE IT THERE. AND THANKS TO

1:14:49YOU.

1:14:51>> ALL.

1:14:52>> THANK YOU TO THE COUNCIL. MY

1:14:54NAME IS JENNA GOLDEN. I'VE BEEN

1:14:55IN PORTLAND FOR 25 YEARS AND I

1:14:57LIVE AND WORK IN DISTRICT ONE.

1:14:59I'VE BEEN A SMALL BUSINESS

1:15:00OWNER IN PORTLAND FOR ALMOST 15

1:15:02YEARS. I OWN AN ACCOUNTING FIRM

1:15:03THAT PREPARES TAXES FOR

1:15:05HUNDREDS OF BUSINESSES IN

1:15:06PORTLAND, THE MAJORITY OF WHICH

1:15:07WILL HAVE RELIEF FROM THIS

1:15:09PROPOSAL. AND WE ALSO HAVE

1:15:10THREE EMPLOYEES OURSELVES. I AM

1:15:11ALSO A COORDINATING MEMBER OF

1:15:13PORTLAND BUSINESSES. FOR ALL I

1:15:14HAVE TO SAY, THIS IS THE FIRST

1:15:15TIME I'VE FELT THAT MYSELF AND

1:15:17MY CLIENTS ARE BEING SEEN BY

1:15:19CITY HALL. PORTLAND IS A CITY

1:15:21OF SMALL BUSINESS OWNERS. WE

1:15:22ARE THE REASON PEOPLE VISIT,

1:15:24BUT WE ARE NOT TREATED AS SUCH.

1:15:27THIS IS PART OF WHY WE FORM

1:15:28PORTLAND BUSINESSES. FOR ALL TO

1:15:30HAVE A SEAT AT THE TABLE IN

1:15:31LOCAL DECISION MAKING. SO

1:15:32SPECIAL THANKS TO COUNCILORS

1:15:34GREEN AND MORILLO FOR SEEING US.

1:15:37I SUPPORT THE FAIR SHARE TAX

1:15:38BECAUSE IT NOT ONLY RELIEVES

1:15:40TRULY SMALL BUSINESSES OF A TAX

1:15:42BURDEN, BUT MORE IMPORTANTLY,

1:15:43IT PUTS THE RESPONSIBILITY OF

1:15:45GENERATING TAX REVENUE ON THE

1:15:46BUSINESSES THAT CAN AFFORD IT.

1:15:48AS AN ACCOUNTANT, I'VE SEEN

1:15:49THAT THOSE WHO HAVE THE LEAST

1:15:51GIVE THE MOST, WHILE THOSE WHO

1:15:52HAVE THE MOST SPEND THEIR MONEY

1:15:54ON LOBBYING AGAINST PAYING

1:15:55THEIR TAXES RATHER THAN

1:15:57CONTRIBUTING TO THE COMMON GOOD,

1:15:58NOT BECAUSE THEY DON'T HAVE THE

1:15:59MEANS TO PAY, BUT BECAUSE THEY

1:16:01WANT US ALL TO HAVE LESS SO

1:16:02THEY CAN CONTROL US MORE. THEIR

1:16:04LOBBYING EFFORTS HAVE WORKED

1:16:06FOR THE PAST FIVE YEARS.

1:16:07CORPORATIONS HAVE SHOWN THE

1:16:08HIGHEST PROFITS IN HISTORY.

1:16:10AVERAGE CEO PAY RATIOS HAVE

1:16:11GONE FROM 26 TO 1 IN THE LATE

1:16:1370S, UP TO TWO, 80 TO 1 IN 2025.

1:16:17THEY EVEN HAVE US BELIEVING

1:16:18THAT TAXING THEM WILL MAKE

1:16:19THINGS WORSE. WHERE DOES THAT

1:16:21LEAVE THE REST OF US? LOWER

1:16:22PRICES, HIGHER PAYING JOBS, A

1:16:24ROBUST SOCIAL PROGRAM. NO

1:16:26WORKER PRODUCTIVITY IS UP WHILE

1:16:27WAGES HAVE STAGNATED, PRICES

1:16:29ARE AT RECORD HIGHS. IN OREGON,

1:16:31MORE THAN 70,000 OREGONIANS

1:16:33LOST SNAP BENEFITS THIS YEAR,

1:16:35AND NEARLY 600,000 FACE LOSING

1:16:37THEIR HEALTH CARE. AND WE HAVE

1:16:39PEOPLE IN THE ROOM WHO WILL SAY

1:16:40THAT THIS TAX ISN'T FAIR.

1:16:42WHAT'S NOT FAIR IS THAT UP TO

1:16:4314 SCHOOLS IN THE PORTLAND AREA

1:16:45ARE IN DANGER OF CLOSING.

1:16:46WHAT'S NOT FAIR IS THAT TRIMET

1:16:48SERVICE HAS BEEN ADJUSTED FOR

1:16:5034 LINES. WHAT'S NOT FAIR IS A

1:16:52MEDICAL CLINIC IN DISTRICT

1:16:53THREE HAVING TO PAY UP TO

1:16:55$8,000 FOR A PERMIT TO BUILD A

1:16:56WHEELCHAIR RAMP. WHAT'S NOT

1:16:58FAIR ARE THE HURDLES THAT SMALL

1:17:00BUSINESSES HAVE TO JUMP THROUGH

1:17:01TO GET FUNDING, WHILE PROSPER

1:17:02PORTLAND IGNORES ITS OWN

1:17:04GUIDELINES TO GIVE A $7 MILLION

1:17:05LOW INTEREST LOAN TO A RISKY

1:17:07SNEAKER VILLAGE THAT FAILED.

1:17:10WHAT'S FAIR IS REDUCING THE TAX

1:17:11BURDEN ON WORKING PEOPLE.

1:17:13WHAT'S FAIR IS INVESTING THE 72

1:17:15MILLION IN OUR PUBLIC SCHOOLS,

1:17:16PUBLIC TRANSIT, HEALTH CARE,

1:17:17AFFORDABLE HOUSING AND LOCAL

1:17:19SMALL BUSINESSES. WHAT'S FAIR

1:17:20IS TO MAKE CORPORATIONS PAY

1:17:22THEIR FAIR SHARE.

1:17:27>> GREAT.

1:17:29>> HI THERE. MY NAME IS ALI

1:17:30BOWDOIN. I'M A BUSINESS

1:17:32PROFESSOR. I'M ALSO ALSO

1:17:33RUNNING FOR CITY COUNCIL FOR

1:17:34DISTRICT THREE. SO I'VE BEEN

1:17:35SPENDING A LOT OF TIME WITH MY

1:17:37COUNTERPARTS THERE. I WANT TO

1:17:39TAKE MY REMARKS. SO FIRST THING

1:17:40IS I THINK YOU SHOULD PASS THIS.

1:17:42I THINK THIS IS A GOOD STRATEGY

1:17:44FOR SMALL BUSINESSES, BUT SOME

1:17:45OF THE CONCERNS I HAVE IS $900

1:17:47IS NOT ENOUGH. WHEN I THINK

1:17:49ABOUT OPERATIONALLY WITH FIRMS

1:17:51I WORK WITH, IT IS LIKE FOUR

1:17:53HOURS OF LABOR COLLECTIVELY FOR

1:17:55AN ORGANIZATION, OR IT COULD BE

1:17:56THE COST OF GOODS FOR THAT DAY.

1:17:58WHAT WE REALLY NEED TO DO IS TO

1:18:00TAKE THE IDEA OF US GOING FROM

1:18:02A POSITIVE TAX RATE TO A ZERO

1:18:03TAX RATE TO A NEGATIVE TAX RATE.

1:18:06AND ONE OF THE WAYS WE DO THIS

1:18:08IS WE DO IT THROUGH A SMALL

1:18:09BUSINESS TAX CREDIT FOR FIRMS

1:18:11UNDER REVENUE. WE CAN LOOK AT

1:18:13THE DATA AND FIGURE OUT, IS IT

1:18:14UNDER HALF $1 MILLION THAT WILL

1:18:16TAKE THE CHARTS THAT WE SAW

1:18:17EARLIER TODAY, WHERE WE SEE

1:18:20DECREASES IN BUSINESS OPENINGS,

1:18:22LIFTING THEM UP THE OTHER

1:18:24DIRECTION. AND THAT WILL REALLY

1:18:26SPUR A REALLY INSPIRATIONAL

1:18:29GROWTH PATH. WE WILL REDUCE

1:18:31VACANCY. WE WILL NOT HAVE TO

1:18:32HAVE POLICE GO INTO THESE

1:18:33PLACES THAT ARE ABANDONED. WE

1:18:35WILL HAVE PEOPLE WORKING. WE

1:18:37WILL HAVE COMMUNITIES THRIVING.

1:18:38THIS INVESTMENT BASED ON BUDGET

1:18:40COULD LOOK LIKE, IN MY MIND, UP

1:18:43TO $10,000, AND THERE IS A

1:18:44FLIGHT PATH OF THE CREDIT. SO

1:18:46IN MY WORLD, IT LOOKS LIKE

1:18:48$100,000 AT A $2,000 CREDIT,

1:18:51500,000 AT A $10,000 CREDIT,

1:18:52AND FIRMS CAN GROW THEIR WAY

1:18:54OUT OF THE CREDIT AND THAT THEY

1:18:56BECOME MUCH BIGGER FIRMS. THE

1:18:58THINGS YOU DO WANT TO THINK

1:18:59ABOUT IS, YOU KNOW, I HAVE SOME

1:19:01DIFFERENT OPINIONS THAN

1:19:02COUNCILOR GREEN. I'M TRAINED AS

1:19:04AN ECONOMIST AS WELL. PRICING

1:19:06IS VERY FLEXIBLE. THE THOUGHT

1:19:08THAT HOW AN ECONOMIST THINKS OF

1:19:10PRICING AND HOW A BUSINESS

1:19:11PERSON THINKS OF PRICING,

1:19:12THEY'RE VERY DIFFERENT. PRICING

1:19:14COULD BE ADJUSTED IN 10S.

1:19:16THAT'S JUST HOW IT IS. THAT'S

1:19:17THE WORLD. THE DATA WE LIVE IN.

1:19:19THERE'S. BUT IF YOU BUILD A

1:19:22STRATEGY WHERE WE SAY, LET'S GO

1:19:25FROM ZERO TO NEGATIVE, THAT WE

1:19:27INCENTIVIZE BUSINESSES TO COME

1:19:28HERE, THAT WHEN I'M WORKING

1:19:29WITH MY CLIENTS AT THE END OF

1:19:31THE YEAR AND SAY, HEY, YOU

1:19:32DON'T OWE THE CITY OF PORTLAND

1:19:34$5,000, YOU'RE GETTING $5,000.

1:19:36AND THEY WILL TAKE THAT AND SAY,

1:19:38COOL, I NEED TO BUY A COFFEE

1:19:40MACHINE. I NEED TO HIRE THIS

1:19:42CONSULTANT. I NEED THIS PAYROLL

1:19:44SERVICE. THIS GIVES ME THAT

1:19:45FLEXIBILITY TO DO THAT. AND,

1:19:47YOU KNOW, LARGE BUSINESSES MAY

1:19:49OR MAY STAY CONTAINED IN THE

1:19:50PORTLAND METRO. BUT THE REAL

1:19:52STRATEGY SHOULD BE, COULD WE

1:19:53GROW THESE SMALL BUSINESSES TO

1:19:55BECOME MEDIUM AND LARGE

1:19:57BUSINESSES? AND THAT OUR

1:19:58LOYALTY BY INVESTING INTO THEM

1:20:00DRIVES THAT. AND THEN A FEW

1:20:02REMARKS. I DO WANT TO MAKE. YOU

1:20:04MADE A POINT ABOUT FIDUCIARY

1:20:06RESPONSIBILITY. YOU KNOW, IN MY

1:20:08TIME AS BEING A BUSINESS

1:20:09PROFESSOR, I HAVE SEEN VERY

1:20:10LITTLE FIDUCIARY RESPONSIBILITY,

1:20:13LIKE FROM A LEGAL ACTION WHEN

1:20:15PUBLICLY TRADED COMPANIES FAIL.

1:20:18AND I SEE IT MY WHOLE CAREER.

1:20:21SO LIKE, I DON'T THINK THAT'S

1:20:22REALLY A DEFENSE MECHANISM FOR

1:20:23THE MOST PART. SO BUT I DO

1:20:27TRUST THAT IF WE INVEST IN OUR

1:20:28BUSINESS OWNERS, THEY WILL

1:20:29INVEST BACK TO US TIME.

1:20:31>> THANK YOU.

1:20:34>> GOOD MORNING, CHAIR KANAL

1:20:35AND COUNCILORS. I'M TYLER

1:20:36PIRTLE-GUINEY. I'M THE

1:20:37EXECUTIVE DIRECTOR OF AND A

1:20:38REGISTERED LOBBYIST FOR

1:20:39PORTLAND JOBS JUSTICE. AND I'M

1:20:41HERE FOR THE WORKING PEOPLE OF

1:20:42THE CITY. THEY'RE THE ONES WHO

1:20:43DRIVE THE BUS, STOCK THE

1:20:45SHELVES AND CLEAN THE OFFICES.

1:20:46AND RIGHT NOW, THEY'RE SQUEEZED

1:20:48FROM EVERY SIDE. AND I DON'T

1:20:49HAVE TO READ YOU A REPORT TO

1:20:50PROVE IT. OVER THE LAST 18

1:20:52MONTHS, I'VE WATCHED SMALL

1:20:53BUSINESSES AROUND MY

1:20:54NEIGHBORHOOD IN D3 CLOSE THEIR

1:20:55DOORS. AND IF YOU ASK ANY OF

1:20:57THOSE OWNERS WHY, YOU'LL HEAR

1:20:58THE SAME THING. EVERYTHING

1:20:59COSTS TOO MUCH. SUPPLIES COST

1:21:00MORE, ESPECIALLY AFTER TRUMP'S

1:21:02TARIFFS, WAGES AND WAGES AND

1:21:04JOB GROWTH HAVE STALLED OUT SO

1:21:05CUSTOMERS HAVE LESS TO SPEND.

1:21:07UTILITIES ARE SKYROCKETING,

1:21:08ALONG WITH COUNTLESS OTHER

1:21:10UNFORESEEN COSTS. THOSE OWNERS

1:21:12ARE DOING EVERYTHING RIGHT AND

1:21:13THEY STILL CAN'T KEEP THE

1:21:14LIGHTS ON. AND MEANWHILE, THE

1:21:15CITY IS TALKING ABOUT A

1:21:16POTENTIAL BUDGET GAP AGAIN NEXT

1:21:18YEAR. PORTLANDERS DON'T WANT TO

1:21:20SEE OUR TAXES GO UP, BUT WE

1:21:21ALSO DON'T WANT TO LOSE THE

1:21:23SERVICES THAT WE COUNT ON

1:21:24SERVICES LIKE PUBLIC SAFETY

1:21:25PARKS, PROGRAMS FOR OUR KIDS,

1:21:27SERVICES THAT YOU ALL CHAMPION

1:21:28EVERY TIME WE TALK ABOUT THE

1:21:29BUDGET. AND WE ALSO ALL SAY

1:21:32THAT WE WANT A BUSINESS

1:21:33FRIENDLY CITY, ESPECIALLY MANY

1:21:34OF YOU UP THERE, BUT NO

1:21:36BUSINESS WANTS TO OPERATE IN A

1:21:37CITY THAT'S CUTTING SERVICES

1:21:38AND FALLING APART. THE FAIR

1:21:40SHARE TAX ANSWERS BOTH OF THOSE

1:21:42CONCERNS. IT'S A RIGHT SIZED

1:21:44SOLUTION. ABOUT 18,000 SMALL

1:21:47BUSINESSES ARE INCREDIBLE FOOD

1:21:48CARTS AND CAFES, VIBRANT TATTOO

1:21:50SHOPS AND HAIR SALONS, AND ALL

1:21:52OF THE ARTISAN SHOPS ON STREETS

1:21:54LIKE HAWTHORNE, ALBERTA,

1:21:55MISSISSIPPI, ETC. WOULD STOP

1:21:56PAYING THE BUSINESS LICENSE TAX

1:21:58ENTIRELY. THAT'S A REAL RELIEF

1:22:00FOR THE PEOPLE WHO ARE ACTUALLY

1:22:02STRUGGLING, AND IT'S PAID FOR

1:22:04BY ABOUT 400 OF THE LARGEST

1:22:05PUBLICLY TRADED CORPORATIONS,

1:22:07WHICH WOULD PAY MORE BASED ON

1:22:08ONE THING, THE GAP BETWEEN WHAT

1:22:10THEY PAY THEIR CEO AND WHAT

1:22:12THEY PAY THEIR TYPICAL WORKER.

1:22:14WE'RE TALKING ABOUT COMPANIES

1:22:15WHERE THE BOSS MAKES 100, 250,

1:22:18EVEN 500 TIMES WHAT THE AVERAGE

1:22:19EMPLOYEE DOES. I DON'T THINK WE

1:22:22NEED TO FEEL EMPATHY OR

1:22:23SYMPATHY FOR THOSE CORPORATIONS.

1:22:24THEY'VE HAD DECADES OF TAX

1:22:26BREAKS WHILE THEIR WORKERS

1:22:27WAGES WENT NOWHERE. AND IT'S A

1:22:28TAX ON PROFITS EARNED RIGHT

1:22:30HERE IN PORTLAND, NOT ON THINGS

1:22:31LIKE GROCERIES OR PAYCHECKS. A

1:22:33COMPANY THAT DOESN'T LIKE THE

1:22:34BILL HAS AN EASY FIX PAY YOUR

1:22:36WORKERS MORE. THAT'S TENS OF

1:22:38MILLIONS OF DOLLARS A YEAR TO

1:22:39KEEP SERVICES RUNNING WITHOUT

1:22:41CUTS OR NEW TAXES ON WORKING

1:22:43FAMILIES. SO TODAY I'M ASKING

1:22:44YOU TO DO ONE THING MOVE THIS

1:22:46OUT OF COMMITTEE AND ONTO THE

1:22:47FULL COUNCIL. LET'S CHOOSE A

1:22:48PORTLAND THAT WORKS FOR WORKERS,

1:22:50SMALL BUSINESSES, AND EVERYONE

1:22:51WHO CALLS THE CITY HOME. THANK

1:22:52YOU. THAT'S MY TIME.

1:22:55>> CONNOR SMITH, ZACH WHITE,

1:22:59THOMAS KAVANAGH, STEVE

1:23:01CHEESBROUGH, LYDIA KIESLING.

1:23:08YOU CAN GO AHEAD. TABLE.

1:23:15>> GOOD MORNING. MY NAME IS

1:23:16CONNOR SMITH. I LIVE IN

1:23:17SOUTHEAST PORTLAND AND I AM A

1:23:19SMALL BUSINESS OWNER IN THE

1:23:20CENTRAL EASTSIDE. PORTLAND IS

1:23:22HOME TO MANY UNIQUE SMALL

1:23:24BUSINESSES, GIVING OUR CITY A

1:23:26MORE VIBRANT FEEL THAN MANY OF

1:23:28THE OTHER CITIES IN THE UNITED

1:23:29STATES. IT'S ONE OF THE REASONS

1:23:31I MOVED HERE FROM CHICAGO WHEN

1:23:33LOOKING AT OTHER WEST COAST

1:23:35CITIES TO ESCAPE THE BAD

1:23:36WEATHER, OPENING A NEW BUSINESS

1:23:38CAN BE DIFFICULT, ESPECIALLY IN

1:23:40THE BAR AND RESTAURANT SCENE,

1:23:41WHICH IS ESPECIALLY KNOWN FOR A

1:23:43HIGH RATE OF FAILURE. IN THE

1:23:45FIRST FEW YEARS. MANY OF THESE

1:23:47BUSINESSES BARELY MAKE ENDS

1:23:48MEET IN THEIR BEGINNING STAGES,

1:23:50BUT IT IS NOT BECAUSE THEY HAVE

1:23:52A POOR CONCEPT OR A RUN BADLY.

1:23:54THEY JUST NEED TIME. THE

1:23:56BUSINESSES THAT SUCCEED AND GO

1:23:58ON TO THRIVE ARE OFTEN THE ONES

1:24:00THAT HAD ENOUGH STARTUP MONEY

1:24:02AVAILABLE TO THEM TO WEATHER

1:24:03THE EARLY YEARS. THE FAIR SHARE

1:24:06TAX ORDINANCE WOULD BE A BOON

1:24:08TO THESE NEW SMALL BUSINESSES

1:24:09IN THE CITY THAT ARE TRYING TO

1:24:11MAKE IT OUT OF THOSE EARLY

1:24:12STRUGGLING YEARS. EVEN A SMALL

1:24:14AMOUNT OF RELIEF CAN MEAN THE

1:24:15DIFFERENCE IN A SMALL BUSINESS

1:24:17SHUTTERING THEIR DOORS AFTER 18

1:24:19MONTHS OR NOT. I BELIEVE THIS

1:24:21ORDINANCE WOULD NOT ONLY HELP

1:24:23EXISTING SMALL BUSINESSES REACH

1:24:25MATURITY AND MORE RELIABLE

1:24:26FUTURE TAX INCOME FOR THE CITY,

1:24:28BUT ALSO ENCOURAGE MORE PEOPLE

1:24:30TO START BUSINESSES IN PORTLAND.

1:24:32UNDER THE TRUMP ADMINISTRATION,

1:24:33WE HAVE SEEN MASSIVE TAX CUTS

1:24:36FOR THE BIGGEST CORPORATIONS, A

1:24:38MODEST LOCAL TAX INCREASE ON

1:24:40THESE LARGE CORPORATIONS IS A

1:24:42DROP IN THE BUCKET COMPARED TO

1:24:43HOW MUCH THEY ARE SAVING.

1:24:45THANKS TO THESE, TRUMP CUTS,

1:24:46THE IDEA THAT ANY OF THEM WOULD

1:24:48STOP DOING BUSINESS HERE IS

1:24:50LUDICROUS AND AN EMPTY THREAT.

1:24:52WE CAN GROW THE PORTLAND

1:24:53ECONOMY BY BUILDING FROM THE

1:24:54BOTTOM UP AND THE MIDDLE OUT,

1:24:56NOT BY BEGGING GIANT

1:24:58CORPORATIONS TO MOVE THEIR

1:24:59HEADQUARTERS HERE WITH THE

1:25:00PROMISE OF LOW, LOW TAXES.

1:25:03THANK YOU.

1:25:08>> HELLO, I'M STEVE CHESBROUGH,

1:25:10I'M A TRANSPORTATION ACTIVIST

1:25:12AND A WORKING MUSICIAN AND A

1:25:14TAX ACCOUNTANT. AND I SUPPORT

1:25:17THIS PROPOSAL. AS GERSHWIN SAYS,

1:25:21IT'S WONDERFUL. IT'S MARVELOUS

1:25:25EXACTLY WHAT WE SHOULD BE DOING

1:25:27HERE. BIG CORPORATIONS ARE NOT

1:25:30HURTING. WORKING PEOPLE ARE

1:25:33HURTING. IF THE CORPORATIONS

1:25:34CAN AFFORD TO PAY 50 OR 500

1:25:37TIMES WHAT THEY PAY THEIR

1:25:38WORKERS TO A CEO, THEN THEY CAN

1:25:40AFFORD TO PAY THIS LITTLE TAX

1:25:43AND THE MONEY IS GOING TO GO

1:25:44BACK TO THEM ANYWAY, RIGHT? WE

1:25:46ALL KNOW THAT TRICKLE DOWN IS

1:25:48IS NONSENSE, RIGHT? IT'S GOING

1:25:49TO THEY'RE GOING TO SELL US

1:25:50STUFF AND THEY'RE GOING TO GET

1:25:52THIS MONEY BACK ANYWAY. SO

1:25:53LET'S, LET'S NOT FEEL SORRY FOR

1:25:55ANYONE WHO'S GOING TO PAY MORE

1:25:57IN THIS TAX. AND MAYBE AS FAR

1:26:00AS ME PERSONALLY, AS A, AS A

1:26:03MUSICIAN, MAYBE SOME OF THE

1:26:05MONEY THAT THE SMALL BUSINESSES

1:26:06WILL SAVE THE COFFEE SHOPS AND

1:26:07THE PUBS AND RESTAURANTS, MAYBE

1:26:09THEY CAN START PUTTING MORE

1:26:12LIVE MUSIC BACK INTO PUBLIC

1:26:13PLACES IN PORTLAND, WHICH IS

1:26:15SOMETHING WE USED TO HEAR ALL

1:26:16THE TIME. HAVE YOU NOTICED WE

1:26:17DON'T HEAR MUCH LIVE MUSIC IN

1:26:19PORTLAND THESE DAYS, SO MAYBE

1:26:20THEY CAN PUT SOME OF THIS MONEY

1:26:22TO GOOD USE DOING THAT, WHICH

1:26:24OF COURSE BENEFITS EVERYONE,

1:26:25NOT JUST THE MUSICIANS. IF WE

1:26:26HAVE MORE MUSIC IN TOWN. AND

1:26:31SHIFTING THE TAX BURDEN TO

1:26:34CORPORATIONS IS SOMETHING THE

1:26:35CITY DID A FEW YEARS AGO WITH

1:26:37CF, RIGHT? EVERYONE LOVES PIZZA.

1:26:38I DON'T HEAR ANYONE SAYING AND

1:26:40SAYING LET'S OVERTURN PIZZA. SO

1:26:43WE KNOW THAT SHIFTING THE TAX

1:26:47BURDEN FROM WORKING PEOPLE TO

1:26:48CORPORATIONS IS A VERY

1:26:50EFFECTIVE AND JUST WAY TO RAISE

1:26:53MONEY FOR THIS CITY. SO LET'S

1:26:54DO IT, PLEASE. THANK YOU.

1:27:00>> ZACH, YOU'RE IN FRONT OF ME

1:27:02OR SHOULD I GO AHEAD? HI,

1:27:03MEMBERS OF THE COMMITTEE. THANK

1:27:05YOU. I VALUE YOUR TIME GREATLY.

1:27:06MY NAME IS THOMAS KAVANAUGH. I

1:27:07LIVE IN NORTHEAST PORTLAND AND

1:27:09HAVE BEEN A RESIDENT OF D2 FOR

1:27:10FIVE YEARS. I BET I'M THE

1:27:12NEWEST BUSINESS OWNER

1:27:13TESTIFYING TODAY. SO I ACTUALLY

1:27:14HAVE NOT EVEN SEEN THE BUSINESS

1:27:16LICENSE TAX COME MY WAY. I'VE

1:27:17BEEN A SOFTWARE DEVELOPER FOR A

1:27:19DECADE, BUT IN THE FACE OF

1:27:21POTENTIAL LAYOFFS AT A FORMER

1:27:23EMPLOYER, I AGONIZED OVER THE

1:27:24CHOICE TO GO INDEPENDENT,

1:27:26CONSULTED WITH MY PARTNER AND

1:27:27PEERS IN THE INDUSTRY. EVERYONE

1:27:28TOLD ME IT WOULD BE TOUGH, THAT

1:27:30I'D WAKE UP EVERY DAY WITH

1:27:32SELF-DOUBT AND ANXIETY, AND I

1:27:33DEFINITELY HAD A LITTLE BIT OF

1:27:34THAT. BUT I'VE NEVER FELT ALONE

1:27:36IN THIS JOURNEY AS A VOLUNTEER

1:27:37WITH PORTLAND BUSINESSES FOR

1:27:38ALL, I'M GRATEFUL TO BE IN

1:27:40COMMUNITY WITH SMART,

1:27:41HARDWORKING ENTREPRENEURS.

1:27:41TOGETHER, WE WANT TO USE OUR

1:27:43VOICES TO REALIZE A MORE

1:27:44INCLUSIVE, COMPASSIONATE, AND

1:27:45EFFECTIVE GOVERNMENT. KNOCK ON

1:27:47WOOD. I THINK SOMETHING'S GOOD

1:27:48HERE. I HOPE TO BE IN BUSINESS

1:27:51AND TESTIFYING AGAIN THIS TIME

1:27:52NEXT YEAR. MAYBE I'LL EVEN HIRE

1:27:54MY FIRST EMPLOYEE. THAT FEELS

1:27:56FUNNY TO SAY OUT LOUD, TO

1:27:57IMAGINE A TRANSITION SO QUICKLY.

1:27:59FROM WORKER BEE TO JOB CREATOR.

1:28:02WHAT I CAN'T IMAGINE, WHAT I

1:28:03FEEL EMBARRASSED EVEN THINKING

1:28:05ABOUT IS INTERVIEWING MY FIRST

1:28:07CANDIDATE AND TELLING THEM, FOR

1:28:08EVERY $1,000 I MAKE, I'LL PAY

1:28:10YOU $1, MAKE ME A MILLIONAIRE,

1:28:13AND THEN MAYBE YOU CAN MAKE

1:28:14YOUR FIRST CAR PAYMENT. I HAVE

1:28:17PLENTY OF CONFIDENCE IN MY

1:28:19ABILITIES. I VALUE MY TIME, I

1:28:21VALUE YOURS, BUT I COULDN'T

1:28:22POSSIBLY THINK THAT MY TIME IS

1:28:251794 TIMES MORE VALUABLE THAN

1:28:26THAT OF ANY TEAM MEMBER I WOULD

1:28:28BRING ON. BUT APPARENTLY THIS

1:28:29GROTESQUE DISPARITY IN WAGE IS

1:28:31NOT SUFFICIENTLY UNDIGNIFIED

1:28:32FOR THE BOARD OF STARBUCKS, WHO

1:28:34AUTHORIZED A $96 MILLION PAYOUT

1:28:36THIS YEAR TO THEIR CEO FOR JUST

1:28:37FOUR MONTHS OF WORK. FOR

1:28:39REFERENCE, A BARISTA MAKING $20

1:28:40AN HOUR WOULD HAVE TO WORK

1:28:424,000,000 HOURS TO MAKE THAT

1:28:43MUCH. IN THE 90S, THE AVERAGE

1:28:45CEO. WHEN I WAS BORN, THE

1:28:47AVERAGE CEO TO WORKER RATIO WAS

1:28:49100 TO 1 FOR THE TOP 350 FIRMS.

1:28:51NOW IT'S OVER 350 OR 300 ISH. I

1:28:54GUESS IT IS. CORPORATIONS WILL

1:28:55ALWAYS PRIORITIZE

1:28:57>> SHAREHOLDER.

1:28:57>> PROFIT OVER THE HEALTH OF

1:28:58COMMUNITIES THEY SERVE AND THE

1:29:00WORKFORCE THAT DELIVERS THEM

1:29:01VALUE. THE TRUMP ADMINISTRATION

1:29:02AND THE DEEPLY POCKETED

1:29:03BUSINESS LOBBY HAVE MADE THIS

1:29:05PROBLEM WORSE. CUTTING

1:29:06CORPORATE TAXES TO FURTHER

1:29:08CENTRALIZE POWER IN THE HANDS

1:29:09OF THE WEALTHY ELITE. I HEARD

1:29:11SOMEONE MENTION THE WORD

1:29:12RIGHTSIZE. I THINK IT WAS TYLER.

1:29:14WHEN ECONOMIC WINDS BECOME

1:29:16UNFAVORABLE. THESE BIG FIRMS

1:29:17LOVE TO USE THE TERM

1:29:19RIGHTSIZING TO DOWNPLAY THE

1:29:21HARDSHIPS THAT MASSIVE LAYOFFS

1:29:22BRING TO THE AVERAGE WAGE

1:29:24EARNER. THE FAIR SHARE TAX

1:29:25BRINGS SOME SANITY BACK TO OUR

1:29:27TAX POLICY. BY RIGHTSIZING THE

1:29:29CONTRIBUTION THAT THESE MASSIVE

1:29:31ENTERPRISES BRING TO PORTLAND.

1:29:34COUNCILOR PIRTLE-GUINEY, DAN

1:29:36RYAN AND THE REST OF THE

1:29:37COUNCIL, I URGE YOU TO ALL

1:29:38SUPPORT THE FAIR SHARE TAX.

1:29:39THANK YOU SO MUCH.

1:29:43>> ZACH WHITE'S ONLINE. YOU CAN

1:29:44GO AHEAD. ZACH.

1:29:47>> HELLO. MY NAME IS ZACH WHITE.

1:29:49I WAS BORN AT THE ADVENTIST

1:29:50HOSPITAL AND I LIVE IN MADISON

1:29:51SOUTH. SHOUT OUT PARK ROAST

1:29:53COFFEE. I'M A FIELD ORGANIZER

1:29:54WITH NEXTUP ACTION FUND AND A

1:29:56MEMBER OF MULTNOMAH FRIENDS

1:29:57QUAKER MEETING TESTIFYING. MY

1:29:59PERSONAL CAPACITY. I'VE BEEN

1:30:00HAUNTED BY THE WEALTH

1:30:02INEQUALITY GAP GRAPH, THE FIRST

1:30:05ONE THIRD OF WEALTH IN AMERICA

1:30:07IS OWNED BY THE 1%. THE TOP 10%

1:30:10OWN TWO THIRDS OF THE WEALTH IN

1:30:13AMERICA, AND THE 90% OF US, WE

1:30:15OWN THAT LAST THIRD. IT'S NOT

1:30:17RULE OF THE PEOPLE. IF WE CAN'T

1:30:19AFFORD RENT AND FOOD, DEMOCRACY

1:30:21JUST BECOMES A WORD OF

1:30:22FORMALITY WITH THAT KIND OF

1:30:23INEQUALITY, TRUMP'S TWO TERMS

1:30:25HAVE EMBOLDENED AN ALREADY

1:30:27CRIMINAL CORPORATE GANGSTER

1:30:28CLASS, ONE OF THE TITANS. WHEN

1:30:30ONE OF THE TITANS OF WALL

1:30:31STREET PAID JEFFREY EPSTEIN

1:30:32MILLIONS OF DOLLARS, WHAT WAS

1:30:33IT FOR? WHAT WAS THE LINE ITEM?

1:30:35WAS TAX ADVICE KIND OF POETIC?

1:30:38I THINK I HAVE A FEELING ALL 12

1:30:40OF YOU LIKE THE PART ABOUT

1:30:42GIVING 18,000 LOCAL SMALL

1:30:43BUSINESSES TAX RELIEF FROM THE

1:30:46BLT. I THINK THE CONTROVERSIAL

1:30:48PART IS ABOUT THE 400 COMPANIES

1:30:49WHO PAY THEIR CEOS AT THIS HIGH

1:30:51RATIO. WE HEARD FROM SARAH

1:30:53ANDERSON OF THE INSTITUTE FOR

1:30:55POLICY STUDIES IN THE GREAT

1:30:57WEBINAR MITCH AND ANGELINA DID

1:30:58WITH HER. SHE SAID THAT WHAT

1:30:59SHE SAID TODAY, NOT ONLY DOES

1:31:02THIS POLL. WELL, AMERICANS LIKE

1:31:03THE IDEA OF A 50 TO 1 CEO RATIO

1:31:07TAX. BUT SHE ALSO SAID WHEN

1:31:09AMERICANS ARE ASKED, THEY THINK

1:31:11LIKE 7 TO 1 IS A FAIR RATIO.

1:31:13AND WHEN I HEARD THAT, I

1:31:15LAUGHED. IT'S REALLY SAD TO

1:31:16HEAR PEOPLE HAVE TALKED ABOUT

1:31:18THE STARBUCKS CEO PAY RATIO IS

1:31:211800 TO 1. AS A KID, MY MOM

1:31:23WOULD DRIVE ME TO MY GRANDMA'S

1:31:25HOUSE ON MOUNT TABOR, AND WE'D

1:31:27PASS WHAT IS NOW THE STARBUCKS

1:31:30ON STARK AND 102ND. I REMEMBER

1:31:33WHEN IT WAS A COFFEE PEOPLE.

1:31:35AND I THINK THAT MEMORY KIND OF

1:31:37TELLS THE STORY OF OUR ECONOMY

1:31:39IN A REALLY HEARTBREAKING WAY.

1:31:41SO YES, IT'S GOOD TO

1:31:43INCENTIVIZE CORPORATIONS TO PAY

1:31:45THE WORKERS MORE. BUT THERE'S

1:31:46ANOTHER SIDE TO THIS. I WATCHED

1:31:48YOUR BUDGET PROCESS THIS YEAR.

1:31:50I WATCHED YOU VOTE OVER AND

1:31:52OVER NOT TO RESTORE SERVICES

1:31:53THE MAYOR HAD CUT. YOU MADE

1:31:55HARD CHOICES. FACED WITH THE

1:31:56RECORD SHORTFALL OF $160

1:31:59MILLION, I QUOTED THE NEW YORK

1:32:00MAYOR MONTHS AGO, BALANCING THE

1:32:02BUDGET ON THE BACKS OF WORKING

1:32:03PEOPLE. I'M STILL SEEING CITY

1:32:06WORKERS PLEADING WITH YOU FOR A

1:32:08FAIR CONTRACT. I THINK THAT

1:32:10BUDGET PROCESS IS SOMETHING TO

1:32:11KEEP IN MIND AS YOU CONSIDER A

1:32:14POLICY LIKE THIS. THE TOP TEN

1:32:16WEALTHIEST AMERICANS WHO OWN

1:32:18TWO THIRDS OF OUR COUNTRY'S

1:32:20WEALTH NEVER HAVE TO SCRAMBLE

1:32:22LIKE MY CITY GOVERNMENT HAS TO

1:32:24SCRAMBLE. THEY NEVER HAVE TO

1:32:26SCRAMBLE LIKE PORTLAND PUBLIC

1:32:28SCHOOLS IS SCRAMBLING. THEY

1:32:29NEVER HAVE TO SCRAMBLE. LIKE

1:32:31HALF OF AMERICANS LIVING

1:32:32PAYCHECK TO PAYCHECK. AND I

1:32:34DON'T THINK ANY OF YOU THINK

1:32:36THAT'S RIGHT. THANK YOU.

1:32:39>> LYDIA KIESLING ONLINE. YOU

1:32:40CAN GO AHEAD. LYDIA.

1:32:42>> GOOD MORNING. MY NAME IS

1:32:43LYDIA KIESLING AND I'M A

1:32:44RESIDENT OF DISTRICT THREE AND

1:32:46A MEMBER OF PORTLAND'S A. THE

1:32:47STATE OF OREGON HAS THE HIGHEST

1:32:49RATE OF UNSHELTERED CHILDREN IN

1:32:50THE UNITED STATES. NUMBER ONE,

1:32:52THE CITY OF PORTLAND, WHICH YOU

1:32:53GOVERN, HAS AROUND 9000 PEOPLE

1:32:55LIVING ON ITS STREETS AND MANY,

1:32:57MANY THOUSANDS MORE PEOPLE WHO

1:32:58DO NOT HAVE A PLACE TO LIVE.

1:33:00THOSE PEOPLE WHO ARE OFTEN NOT

1:33:01COUNTED LIVE IN CARS OR WITH

1:33:03RELATIVES OR ACQUAINTANCES, OR

1:33:05AN EXTENDED STAY. MOTELS. MANY

1:33:06OF THESE PEOPLE HAVE JOBS AND

1:33:08GO TO WORK EVERY DAY, JUST LIKE

1:33:09YOU. PULITZER PRIZE WINNING

1:33:11AUTHOR BRIAN GOLDSTONE IN HIS

1:33:13BOOK THERE IS NO PLACE FOR US,

1:33:15METICULOUSLY DETAILS THE WAY

1:33:16THAT WORKING PEOPLE IN AMERICA

1:33:17ARE PUSHED INTO HOMELESSNESS BY

1:33:19A PREDATORY ECONOMY THAT

1:33:20SQUEEZES VALUE OUT OF THEM AND

1:33:21THEN THROWS THEM AWAY. AMERICAN

1:33:23COMPANIES COLLUDE TO MAINTAIN A

1:33:25PERMANENT UNDERCLASS THROUGH

1:33:26LOW WAGES, UNSTABLE HOURS, AND

1:33:28SCHEDULES THAT MAKE BENEFITS.

1:33:29OUT OF THE QUESTION. THE

1:33:30PRIVATE EQUITY COMPANIES THAT

1:33:32BUY UP HOUSING UNITS AND DRIVE

1:33:33UP RENTS ALSO OWN THE EXTENDED

1:33:35STAY HOTELS THAT PEOPLE MUST

1:33:36TURN TO AFTER THEY CAN NO

1:33:37LONGER KEEP UP WITH RENT OR PAY

1:33:39THE DEPOSIT FOR A NEW PLACE.

1:33:41THESE ARE FACTS, AND THERE HAS

1:33:42BEEN NO SOCIAL, LEGAL OR

1:33:44MATERIAL CONSEQUENCE FOR THESE

1:33:45CORPORATE BEHAVIORS, EVEN

1:33:46THOUGH THEY HAVE DIRECTLY

1:33:47CONTRIBUTED TO THE SKYROCKETING

1:33:48RATES OF HOMELESSNESS IN OUR

1:33:50COUNTRY, BOTH THE KINDS THAT IS

1:33:51VISIBLE IN OUR STREETS, AND THE

1:33:52KIND THAT IS TUCKED AWAY IN

1:33:54MOLD FILLED MOTELS AND IS NO

1:33:55LESS DEVASTATING. THE PROPOSED

1:33:57FAIR SHARE TAX IS AN EXPRESSION

1:33:59OF ECONOMIC JUSTICE THAT SEEKS

1:34:01TO PREVENT CEOS FROM GROWING

1:34:02UNIMAGINABLE WEALTH ON THE

1:34:03BACKS OF PEOPLE THEY DON'T PAY

1:34:04ENOUGH TO LIVE. IT REQUIRES

1:34:06LARGE COMPANIES TO RECOGNIZE

1:34:08THE INCREDIBLE RESOURCES OF

1:34:09PORTLAND'S HUMAN, CULTURAL AND

1:34:11BUILT ENVIRONMENT, WHICH THEY

1:34:12HAVE BEEN HAPPY TO EXPLOIT

1:34:13WITHOUT CONTRIBUTING TO. IT

1:34:15BOLSTERS OUR BUDGET AT A MOMENT

1:34:17WHEN SO MANY OF THE VITAL

1:34:18SERVICES WE NEED ARE BEING

1:34:19SLASHED, AND IT MATERIALLY

1:34:20HELPS OUR AMAZING PORTLAND

1:34:21SMALL BUSINESSES, THE SAME

1:34:22GROUP THAT HAS ALWAYS DEPLOYED

1:34:24BY POLITICIANS TO SUPPORT

1:34:25POLICY OR COMPLAIN ABOUT TAXES

1:34:26AND REDUCES THE BURDENS UPON

1:34:28THEM. OUR MODEL OF TRICKLE DOWN

1:34:31PHILANTHROPY FROM PEOPLE AND

1:34:32CORPORATIONS WHO WANT THEIR

1:34:33NAME ON A BUILDING WILL NOT

1:34:35RESTORE OUR BUS SERVICE. IT

1:34:36WILL NOT HOUSE PEOPLE, CLEAN

1:34:37OUR PARKS, FILL POTHOLES, OR

1:34:39PUT MONEY IN WORKING PEOPLE'S

1:34:40POCKETS. WE CANNOT WAIT FOR

1:34:42COMPANIES TO DO THE RIGHT

1:34:43THINGS BECAUSE THEY WILL NOT.

1:34:44THEY ARE BEHOLDEN TO THEIR

1:34:46SHAREHOLDERS, NOT THEIR WORKERS,

1:34:47NOT THEIR CITIES, AND NOT YOU

1:34:48AND ME. GOVERNMENT MUST COMPEL

1:34:50THEM TO CONTRIBUTE, JUST LIKE

1:34:51INDIVIDUAL PORTLANDERS DO, BUT

1:34:53AT A RATE THAT AT LEAST TRIES

1:34:54TO APPROACH FAIRNESS. IF YOU

1:34:55VOTE AGAINST THIS, YOU ARE

1:34:57CHOOSING A BILLIONAIRE WHO

1:34:58DOESN'T EVEN GO HERE OVER

1:35:00SOMEONE WHO OWNS YOUR FAVORITE

1:35:01COFFEE SHOP AND SENDS THEIR

1:35:02KIDS TO PORTLAND PUBLIC SCHOOLS,

1:35:04YOU ARE CHOOSING A BILLIONAIRE

1:35:05WHO WILL USE HIS WEALTH TO

1:35:06MEDDLE IN OUR DEMOCRACY OVER

1:35:07KIDS IN PORTLAND WHO NEED

1:35:08SWIMMING LESSONS. YOU ARE

1:35:10CHOOSING A BILLIONAIRE OVER THE

1:35:11PEOPLE WHO CLEAN AND CARE FOR

1:35:12THE BUILDING YOU'RE IN, WHOSE

1:35:14COMMUTES HAVE GOTTEN LONGER AND

1:35:15WHOSE BILLS ARE GOING UP EVERY

1:35:17DAY. THAT'S THE CHOICE YOU WILL

1:35:19MAKE IF YOU DO NOT SUPPORT THIS

1:35:20COMMON SENSE, INCONTROVERTIBLY

1:35:21JUST PIECE OF LEGISLATION THAT

1:35:23WILL BE YOUR POLITICAL LEGACY.

1:35:25THANK YOU.

1:35:29>> SARAH FISHER, BRIAN KOTLOV,

1:35:32DION MENSAH, JAMIE PARTRIDGE,

1:35:35NICOLE DUBROW.

1:35:38>> WE'LL BE TAKING A SHORT

1:35:39BREAK AFTER THIS GROUP OF.

1:35:40>> BRIAN'S ONLINE. YOU CAN GO

1:35:42AHEAD, BRIAN.

1:35:44>> THANK YOU. HI, EVERYONE.

1:35:45GOOD MORNING. MY NAME IS BRIAN.

1:35:46I'M A RESIDENT OF DISTRICT FOUR,

1:35:48AND I'M SPEAKING IN OPPOSITION

1:35:49TO THIS MISGUIDED PIECE OF

1:35:51LOCAL LEGISLATION THAT SHOULD

1:35:53BE TAKEN UP IN THE US CONGRESS,

1:35:54NOT PORTLAND CITY HALL. MANY

1:35:57COUNCILORS AND TESTIFIERS ARE

1:35:58TAKING IT AS SIMPLE FACT THAT

1:35:59COMPANIES WILL CONTINUE TO

1:36:01INVEST IN PORTLAND WITH NO

1:36:02CHANGE IF THIS TAX IS

1:36:04IMPLEMENTED. BUT IT IGNORES THE

1:36:06TENS OF THOUSANDS OF COMPANIES

1:36:07THIS. TAX TARGETS WHO ARE NOT

1:36:10CONSUMER FOCUSED AND CAN MORE

1:36:11EASILY AVOID CREATING A TAX

1:36:13NEXUS IN PORTLAND BY SIMPLY NOT

1:36:15HIRING PORTLAND WORKERS. IF

1:36:17THIS LEGISLATION PASSES, THE

1:36:18PEOPLE WHO ULTIMATELY LOSE

1:36:20AREN'T WEALTHY CEOS, THEIR

1:36:22PORTLAND WORKERS. WE ALL WANT

1:36:24WORKERS TO EARN BETTER WAGES,

1:36:25RECEIVE BETTER BENEFITS, AND

1:36:27ENJOY BETTER WORKING CONDITIONS.

1:36:28AND THE MOST POWERFUL WAY TO

1:36:30ACHIEVE THESE WORKER BENEFITS

1:36:32IS BY MAKING EMPLOYERS COMPETE

1:36:34FOR THEIR LABOR. AS AN EXAMPLE,

1:36:36IF YOU ONLY HAVE ONE POTENTIAL

1:36:39EMPLOYER, THAT EMPLOYER HAS

1:36:41ENORMOUS LEVERAGE OVER YOU.

1:36:42THEY CAN PAY YOU LESS, OFFER

1:36:44FEWER BENEFITS, AND PROVIDE

1:36:45WORSE WORKING CONDITIONS

1:36:47BECAUSE YOU HAVE NOWHERE ELSE

1:36:48TO GO. BUT WHEN TEN COMPANIES

1:36:50ARE COMPETING TO HIRE YOU, THE

1:36:52DYNAMIC CHANGES COMPLETELY. NOW,

1:36:54EMPLOYERS HAVE TO COMPETE FOR

1:36:55YOUR LABOR. THEY HAVE TO OFFER

1:36:57BETTER PAY, BETTER BENEFITS AND

1:36:58BETTER WORKING CONDITIONS. AND

1:37:00THAT'S HOW WORKERS GAIN TRUE

1:37:02BARGAINING POWER. THE ABILITY

1:37:03TO TELL THE CEO OF YOUR COMPANY,

1:37:06PAY ME MORE MONEY, OR I'M GOING

1:37:07TO WORK FOR THE COMPANY DOWN

1:37:08THE STREET. THAT'S WHY I FIND

1:37:10THIS PROPOSAL COUNTERPRODUCTIVE.

1:37:12AT THE LOCAL LEVEL, WE'RE

1:37:13PROPOSING TO DRAMATICALLY

1:37:14INCREASE TAXES ON SOME OF THE

1:37:16VERY BUSINESSES WE SHOULD WANT,

1:37:17COMPETING AGGRESSIVELY TO HIRE

1:37:19PORTLAND WORKERS. SUPPORTERS

1:37:21SAY THIS WILL HELP WORKERS, BUT

1:37:23DISCOURAGING POTENTIAL

1:37:23EMPLOYERS FROM INVESTING HERE,

1:37:25EXPANDING HERE OR HIRING HERE

1:37:27IS ABSOLUTELY ANTI-WORKER. THE

1:37:29BEST THING WE CAN DO FOR

1:37:30PORTLAND WORKERS IS MAKE

1:37:32PORTLAND A PLACE WHERE

1:37:32EMPLOYERS COMPETE AGGRESSIVELY

1:37:34FOR THEIR TALENT. SO PLEASE

1:37:36DON'T UNDERMINE THAT

1:37:37COMPETITION. PLEASE REJECT THIS

1:37:39ANTI-WORKER PIECE OF

1:37:40LEGISLATION AND FIND AN

1:37:41ALTERNATIVE AVENUE TO GET SMALL

1:37:43BUSINESSES THE RELIEF THAT THEY

1:37:45NEED. THANK YOU.

1:37:51>> ONLINE. YOU CAN GO AHEAD.

1:37:54>> HELLO AND GOOD MORNING,

1:37:55COUNCILORS. MY NAME IS DION

1:37:57MENSAH AND I SERVE AS THE

1:37:58DEPUTY DIRECTOR OF THE OREGON

1:37:59BLACK WORKER CENTER AT IMAGINE

1:38:00BLACK AND I LIVE WITHIN

1:38:02DISTRICT TWO, LED BY IMAGINE

1:38:04BLACK FUTURES IN THE ROSEWOOD

1:38:05INITIATIVE. THE OREGON BLACK

1:38:06WORKER CENTER IS THE ONLY

1:38:07WORKER CENTER IN OREGON BUILT

1:38:09EXPLICITLY FOR BLACK WORKERS.

1:38:11WE ARE A STATEWIDE CENTER

1:38:12BUILDING POWER, DIGNITY, AND A

1:38:13REAL SHOT AT ECONOMIC JUSTICE

1:38:15FOR BLACK WORKERS ACROSS OREGON.

1:38:17WE ORGANIZE, EDUCATE, ADVOCATE,

1:38:19AND HOLD SPACE FOR COMMUNITY

1:38:20CARE TO BUILD COLLECTIVE POWER

1:38:22FOR BLACK OREGONIANS. WE ARE IN

1:38:24SUPPORT OF THE FAIR SHARE TAX,

1:38:26A PIVOTAL STEP TOWARDS REDUCING

1:38:27THE STARK, STARK PAY INEQUALITY

1:38:29BETWEEN RICH CEOS AND THEIR

1:38:30MEDIAN WORKER. WHILE THESE

1:38:32EXPLOITATIVE COMPANIES CONTINUE

1:38:33TO BRING IN RECORD PROFITS AND

1:38:35HIGHER CEO PAY, THEIR WORKERS

1:38:37ARE OFTEN LEFT SUFFERING TRYING

1:38:38TO MAKE ENDS MEET. CEO PAY HAS

1:38:40CONTINUED TO SKYROCKET SINCE

1:38:421978. CEOS AT THE LARGEST US

1:38:45CORPORATIONS SAW THEIR PAY

1:38:46INCREASE BY ONE 1,094%, WHILE

1:38:49WORKER PAY ONLY GREW 26% OVER

1:38:51THE SAME TIME PERIOD. FOR

1:38:53EXAMPLE, AS WE'VE TALKED ABOUT

1:38:54TODAY, THE CEO OF STARBUCKS IS

1:38:56PAID AT A RATE OF ALMOST 1800

1:38:57TO 1 COMPARED TO THEIR MEDIAN

1:38:59WORKER ON THE DAY TO DAY BASIS.

1:39:01HOWEVER, WE KNOW THAT THE

1:39:02LOWEST PAID WORKERS ARE THE

1:39:03ONES TAKING ON THE BRUNT OF THE

1:39:05WORK THAT KEEPS THE CORPORATION

1:39:06PROFITABLE. ACCORDING TO THE US

1:39:08BUREAU OF LABOR STATISTICS

1:39:11SEPTEMBER 2026 REPORT, THE

1:39:12JOBLESS RATE OF BLACK AMERICANS

1:39:14ROSE FROM 6 TO 7% BETWEEN

1:39:16AUGUST AND SEPTEMBER THIS YEAR,

1:39:18300,000 BLACK WOMEN WERE FORCED

1:39:19OUT OF THE WORKFORCE IN 2025,

1:39:21AT A TIME WHEN GAS PRICES ARE

1:39:23OFF THE CHARTS, UTILITY BILLS

1:39:25ARE ONLY CONTINUING TO RISE AND

1:39:26FOOD COSTS ARE UNHEARD OF.

1:39:28FOLKS ARE BEING FORCED INTO

1:39:29DIRE SITUATIONS TRYING TO GET

1:39:31THEIR BASIC NEEDS MET. THE FAIR

1:39:32SHARE TAX IS AN OPPORTUNITY TO

1:39:34INCENTIVIZE CEOS AT COMPANIES

1:39:35THAT PAY 50 TIMES OR MORE THAN

1:39:37THEIR MEDIAN WORKER, TO RAISE

1:39:38WAGES FOR THE WORKERS. TO AVOID

1:39:40PAYING THE ADDITIONAL SURTAX.

1:39:42THESE WORKERS DESERVE SO MUCH

1:39:43BETTER, AND THE FAIR SHARE TAX

1:39:45IS A STEP IN THE RIGHT

1:39:46DIRECTION TO GETTING THEM TO

1:39:47PAY THAT THEY TRULY NEED AND

1:39:49DESERVE. BRINGING IN AN

1:39:50ESTIMATED $72 MILLION ANNUALLY

1:39:51IN REVENUE FOR THE CITY OF

1:39:52PORTLAND, THE FAIR SHARE TAX

1:39:54CAN ALSO SERVE AS AN IMPORTANT

1:39:55WAY TO BRING DOLLARS IN TO

1:39:57SUPPORT PUBLIC SERVICES. THIS

1:39:58IS SIGNIFICANT. AS YOU ALL KNOW,

1:40:00LARGE CUTS WERE MADE TO ADDRESS

1:40:01THE BUDGET DEFICIT THIS YEAR,

1:40:02AND WORKING CLASS PEOPLE ARE

1:40:04THE FIRST FOLKS TO FEEL THESE

1:40:05IMPACTS OF PUBLIC SERVICES

1:40:06BEING REDUCED OR ELIMINATED

1:40:08ALTOGETHER. THIS ADDITIONAL

1:40:09REVENUE WOULD BE CRITICAL IN

1:40:10ENSURING THAT PORTLANDERS HAVE

1:40:12THE SERVICES THAT THEY NEED,

1:40:13AND THIS MAKES THE DIFFERENCE

1:40:14BETWEEN SOMEONE BEING ABLE TO

1:40:15MAKE THEIR NORMAL TRIMET

1:40:17COMMUTE HOME OR FAMILY, BEING

1:40:18ABLE TO ACCESS SOMEWHERE

1:40:19PROGRAMS FOR THEIR CHILDREN.

1:40:21THE OREGON BLACK WORKER CENTER

1:40:22BELIEVES IN THE POWER OF

1:40:23WORKING CLASS PEOPLE. WE STAND

1:40:25IN SUPPORT OF THE FAIR SHARE

1:40:27TAX TODAY TO JOIN THE CALL FOR

1:40:28A BETTER PORTLAND. FOR FOLKS TO

1:40:30LIVE, WORK AND PLAY.

1:40:31>> IN.

1:40:31>> WE HAVE AN IMPORTANT

1:40:33OPPORTUNITY HERE TO CHANGE THE

1:40:34SYSTEMS THAT BURDEN BLACK

1:40:35WORKERS AND WORKING CLASS

1:40:36PEOPLE FROM ALL WALKS OF LIFE.

1:40:37WE URGE YOU ALL TO SEE THE

1:40:39BENEFIT IN NOT ONLY REINING IN

1:40:41UNREASONABLE CEO PAY, BUT ALSO

1:40:42LIFTING UP WORKER WAGES AND

1:40:43SUPPORTING OUR CITY'S SMALL

1:40:44BUSINESSES. THANK YOU.

1:40:47>> YOU CAN GO AHEAD AT THE

1:40:48TABLE.

1:40:50>> GOOD MORNING, CHAIR AND

1:40:53COMMITTEE. IT'S ALWAYS AN HONOR

1:40:55AND A PRIVILEGE TO BE WITH YOU.

1:40:57I'M SARAH FISHER, I'M AN

1:40:59EPISCOPAL PRIEST AND A LONG

1:41:01TIME RESIDENT OF DISTRICT THREE.

1:41:03OVER 40 YEARS, I'VE LIVED IN

1:41:06ALL FOUR QUADRANTS OF OUR CITY.

1:41:09I WALK EVERYWHERE, I SHOP LOCAL.

1:41:13I KNOW THAT NEIGHBORHOODS ARE

1:41:14THE BACKBONE OF THIS CITY, AND

1:41:17SMALL BUSINESSES LIKE SCHOOLS,

1:41:19ARE ITS BEATING HEART AND

1:41:22LIFEBLOOD. SMALL BUSINESSES

1:41:25MAKE OUR CITIES THRIVE. EVERY

1:41:28SMALL BUSINESS I KNOW STRUGGLES

1:41:30TO MAKE ENDS MEET EVERY DAY AND

1:41:33EVERY MONTH. SOME DON'T KNOW

1:41:36HOW THEY WILL KEEP THE LIGHTS

1:41:38ON FROM WEEK TO WEEK. ONE ICE

1:41:41STORM CAN RUIN A SMALL

1:41:44RESTAURANT'S WHOLE YEAR. ONE OF

1:41:47MY FAVORITE SAYINGS IS THAT YOU

1:41:49CAN COUNT THE SEEDS IN AN APPLE,

1:41:52BUT YOU CANNOT COUNT THE APPLES

1:41:55IN A SEED. THIS ELIMINATION OF

1:41:59THE BLT, HOWEVER SMALL IT MAY

1:42:02SEEM TO MANY OF YOU, IS A SEED

1:42:05FOR SMALL BUSINESSES. IF ANYONE

1:42:09HAS STORIES ABOUT COMMUNITIES

1:42:10THAT THRIVE IN A CULTURE OF

1:42:13AUSTERITY, LET ME KNOW. WHEN

1:42:16SMALL BUSINESSES THRIVE, WE ALL

1:42:18THRIVE. AS A PASTOR WHO

1:42:21ADVOCATES FOR OUR NEIGHBORS WHO

1:42:24ARE SILENCED BY EXTREME POVERTY,

1:42:27I'M OFTEN ACCUSED OF ONLY

1:42:30CARING ABOUT POOR AND UNHOUSED

1:42:33PEOPLE. THIS IS NOT TRUE. IN

1:42:36ADDITION TO SUPPORTING SMALL

1:42:38BUSINESS OWNERS THROUGHOUT OUR

1:42:39CITY, I AM DEEPLY CONCERNED

1:42:42ABOUT THE SPIRITUAL AND MORAL

1:42:45HEALTH OF PEOPLE WHO THINK IT'S

1:42:47OKAY TO PAY THEIR EMPLOYEES

1:42:50SUCH A TINY PERCENTAGE OF WHAT

1:42:51THEY MAKE THEMSELVES. I DON'T

1:42:55WANT OUR CITY TO FOLLOW THE

1:42:57MORALLY BANKRUPT PATH OF THE

1:43:00FEDERAL ADMINISTRATION. THE

1:43:02FAIR SHARE TAX WILL HELP ALL

1:43:06PORTLANDERS AND EVERYONE WHO

1:43:07DOES BUSINESS HERE. PLEASE DO

1:43:11THE RIGHT THING. THANK YOU VERY

1:43:14MUCH.

1:43:18>> ALL RIGHT. HELLO. GOOD

1:43:20MORNING. I'M JAMIE PARTRIDGE.

1:43:22I'M A RETIRED MAIL CARRIER IN

1:43:24DISTRICT TWO, AND I'M HERE TO

1:43:27SPEAK ON IN FAVOR OF THE FAIR

1:43:29SHARE TAX. AND ON BEHALF OF MY

1:43:32FAVORITE BARISTA, SMALL

1:43:35BUSINESS OWNER, A SOLE

1:43:37PROPRIETOR WHO IS WORKING RIGHT

1:43:38NOW, NOT ABLE TO COME AND

1:43:40TESTIFY FOR HERSELF. SHE RUNS A

1:43:45COFFEE FOOD CART. LATINA SINGLE

1:43:47MOTHER OF THREE, WORKS EIGHT

1:43:49HOURS A DAY, SEVEN DAYS A WEEK

1:43:51TO KEEP HER COFFEE FOOD CART

1:43:54AFLOAT, AND MAKES $125,000 A

1:43:58YEAR, WHICH PUTS HER ABOVE THE

1:44:00LEVEL FOR THE SMALL BUSINESS

1:44:02EXEMPTION FOR THE BUSINESS

1:44:07LICENSE TAX. IF THE EXEMPTION

1:44:09WERE RAISED TO 500,000 LIKE

1:44:11THIS PROPOSAL WOULD DO, SHE

1:44:16COULD TAKE A DAY OFF. IT WOULD

1:44:19MAKE THAT MUCH DIFFERENCE IN

1:44:20HER LIFE. AND WHY IN THE WORLD

1:44:23WOULD WE NOT RAISE TAXES ON THE

1:44:27MULTIBILLION DOLLAR

1:44:28CORPORATIONS THAT HAVE CEOS

1:44:29THAT MAKE OVER 50 TIMES THEIR

1:44:32AVERAGE WORKER? THINK OF THE

1:44:34AVERAGE WORKER MAKING $25 AN

1:44:36HOUR, CEO MAKING 2.5 MILLION A

1:44:40YEAR. WHO NEEDS THAT KIND OF

1:44:42MONEY? I, MY CORPORATION, THE

1:44:48US POSTAL SERVICE, THE CEO,

1:44:51SEVEN LEVELS OF MANAGEMENT

1:44:53ABOVE THE THE THE POSTAL

1:44:56WORKERS MAKES $350,000 A YEAR.

1:44:59THAT'S SIX TIMES WHAT THE

1:45:01AVERAGE WORKER MAKES. THAT

1:45:04SEEMED LIKE TOO MUCH TO ME

1:45:05ANYWAY, BUT IT'S A LOT LESS

1:45:07THAN WHAT WE'RE TALKING ABOUT

1:45:10HERE, AND CERTAINLY MUCH MORE

1:45:11REASONABLE, AS SOMEONE

1:45:13SUGGESTED THAT THE AVERAGE

1:45:16PERSON IN A SURVEY WAS SAID

1:45:17THAT 7 TO 1 SEEMED REASONABLE.

1:45:20I DON'T KNOW, BUT IT'S WHAT

1:45:24WE'RE TALKING ABOUT HERE IS

1:45:26REALLY OUT OF LINE. AND WHY

1:45:28WOULDN'T WE WANT TO BRING IN

1:45:29TEN TENS OF MILLIONS OF DOLLARS

1:45:32TO IMPROVE AND SECURE THE

1:45:34SERVICES THAT WE ALL DESERVE,

1:45:37LIKE EXPANDING SOCIAL HOUSING?

1:45:40ANYWAY, WE DESERVE IT. LET'S DO

1:45:41IT. THANK YOU.

1:45:44>> NICOLE IS ONLINE. YOU CAN GO

1:45:46AHEAD.

1:45:51>> HI. THANKS. I'M A PORTLANDER

1:45:52AND DAN RYAN'S DISTRICT TWO,

1:45:55AND I'M TESTIFYING IN FAVOR OF

1:45:56THE FAIR SHARE TAX ON BEHALF OF

1:45:59THE LIFEBLOOD OF OUR CITY,

1:46:00SMALL BUSINESS OWNERS AND THEIR

1:46:02LOCAL EMPLOYEES. THE

1:46:04INDEPENDENT ENTREPRENEURIAL

1:46:05SPIRIT OF PORTLAND'S DIY

1:46:07CULTURE WAS ONE OF THE PRIMARY

1:46:09REASONS I MOVED TO PORTLAND 20

1:46:10YEARS AGO. I LOVE GETTING TO

1:46:12KNOW THE LOCAL BUSINESS OWNERS

1:46:13IN MY NEIGHBORHOOD, AND THE

1:46:15INTERACTIONS I HAVE WITH

1:46:17BUSINESS OWNERS AND THEIR

1:46:18EMPLOYEES IS SO INNATELY

1:46:19INGRAINED INTO MY SENSE OF

1:46:20COMMUNITY AND PLACE. WHEN I

1:46:22MOVED OUT OF MY LONGTIME

1:46:23NEIGHBORHOOD, I SHARED A TENDER

1:46:25MOMENT OF GOODBYE WITH THE

1:46:26OWNER OF THE NEIGHBORHOOD PET

1:46:27SHOP NO PO PALS, BECAUSE I

1:46:29GRIEVED KNOWING SHE AND HER

1:46:30STORE WOULD NOT BE PART OF MY

1:46:32DAILY FABRIC ANYMORE. I STILL

1:46:34THINK FONDLY OF THE LOCAL

1:46:35COFFEE SHOP ALREADY THAT ALWAYS

1:46:36HAD A TREAT BEHIND THE COUNTER

1:46:37FOR MY DOG, AND A SMILE AND

1:46:39CHIT CHAT FOR ME. THAT MADE MY

1:46:41LATTE WAY SWEETER THAN ANYTHING

1:46:43UNION BUSTING CORPORATE

1:46:44STARBUCKS COULD EVER SERVE. IN

1:46:47FACT, IT WAS MY FORMER

1:46:48HOUSEMATE FROM 2009 THAT'S NOW

1:46:51A BUSINESS OWNER THAT FIRST

1:46:52ALERTED ME TO TO THE NEED TO

1:46:55TESTIFY. AND THEN I MET ANOTHER

1:46:56BUSINESS OWNER AT DEAD MOON

1:46:58NIGHT, A FREE CONCERT PARTIALLY

1:47:00ORGANIZED BY LOCAL BUSINESS

1:47:01MISSISSIPPI RECORDS. WE LEFT

1:47:04NOSTALGIC ABOUT OLD PORTLAND

1:47:05AND THE URGENCY OF SAVING LOCAL

1:47:07BUSINESSES IN ORDER TO SAVE OUR

1:47:09LOCAL ECONOMY AND BELOVED

1:47:11CULTURE. BUT A LOT HAS CHANGED

1:47:15IN PORTLAND, PARTICULARLY

1:47:17AFFORDABILITY. INSTEAD OF

1:47:19CONVERSATIONS DECIDING WHICH

1:47:20NEW RESTAURANT TO TRY, I FIND

1:47:22MY FRIENDS AND I TALKING MORE

1:47:23ABOUT WHICH OF OUR FAVORITE

1:47:24RESTAURANTS CLOSED RECENTLY. WE

1:47:27EVEN MAKE OUR LIST OF LIKE, TOP

1:47:29FIVE FAVORITE RESTAURANTS AND

1:47:30CAFES AND SHOPS THAT WE MISS.

1:47:32SHOUT OUT TO REVELRY, THE BEST

1:47:34RESTAURANT THAT'S NO LONGER

1:47:35HERE. EARLIER THIS WEEK, A

1:47:38FRIEND OF MINE SENT OUT A

1:47:39SURVEY ASKING FRIENDS TO

1:47:41BRAINSTORM THEIR NEXT STEP

1:47:42BECAUSE THEY HAD TO SHUT DOWN

1:47:43THEIR BUSINESS DUE TO IT NOT

1:47:44BEING PROFITABLE ANYWHERE.

1:47:47MEANWHILE, PORTLAND'S

1:47:47HEALTHCARE AND SCHOOL SYSTEMS

1:47:48ARE CONSOLIDATING. OUR NATION'S

1:47:50MEDIA HAS FURTHER CONSOLIDATED,

1:47:53AND LIVE NATION SEEMS TO GET

1:47:54MORE FAVORABLE TREATMENT BY THE

1:47:56CITY THAN OUR BELOVED LOCAL

1:47:57MUSIC VENUE, DOUG FIR. THE CITY

1:47:59NEEDS TO DO WHAT IT CAN TO STOP

1:48:01THE BLEEDING. PASSING THE FAIR

1:48:03SHARE TAX IS ONE TANGIBLE WAY

1:48:05TO DO THAT. THE CITY OF

1:48:06PORTLAND MUST STAND WITH THE

1:48:07LOCAL BUSINESS OWNERS THAT ARE

1:48:09THE PULSE OF OUR COMMUNITY. THE

1:48:10CITY OF PORTLAND MUST STAND

1:48:12WITH THE LOCAL EMPLOYEES WHOSE

1:48:14LIVELIHOOD ARE DEPENDENT ON THE

1:48:15SURVIVAL OF OUR LOCAL BUSINESS

1:48:17CULTURE. FAILURE TO DO SO WILL

1:48:21ERODE THE VIBRANCY OF OUR CITY

1:48:23FOR THE VAST MAJORITY OF US,

1:48:25JUST FOR THE CONTINUED BENEFIT

1:48:26OF THE FACELESS C-SUITES AND

1:48:28SHAREHOLDERS WHO ARE THE CAUSE

1:48:29OF THE AFFORDABILITY CRISIS,

1:48:31PLEASE STAND WITH LOCAL

1:48:32PORTLAND BUSINESSES AND THE

1:48:33VAST MAJORITY OF RESIDENTS WHO

1:48:35LOVE THEM, AND NOT THE

1:48:36CORPORATE LOBBYISTS WHOSE

1:48:38INTERESTS ARE IN STARK

1:48:39OPPOSITION TO OUR GOAL TO HAVE

1:48:42THE SUSTAINABILITY OF A

1:48:44THRIVING PORTLAND FOR ALL, FOR

1:48:46GENERATIONS, FOR COME, AND NOT

1:48:48JUST SUSTAINABILITY FOR THE TOP

1:48:51FEW. THANK YOU.

1:48:54>> THANK YOU, COLLEAGUES, WE'RE

1:48:55GOING TO TAKE A SHORT BREAK.

1:48:57WE'LL BE BACK AT 1124. PLEASE

1:48:59TRY TO BE BACK ON TIME. THANKS.

2:00:02ALL RIGHT. THANK YOU. WE ARE

2:00:03NOW BACK. AND REBECCA, IF YOU

2:00:06COULD PLEASE CALL UP THE THE

2:00:07NEXT PANEL. THANKS.

2:00:12>> MOLLY. HOGAN, BERNABÉ. RUIZ.

2:00:17LAUREN. ARMONY. ESTHER. LEON.

2:00:21JENNIFER. BITGOOD.

2:00:39>> GO AHEAD.

2:00:41>> HELLO, COUNCIL. THANK YOU

2:00:43FOR THIS OPPORTUNITY TO SPEAK.

2:00:45MY NAME IS MOLLY HOGAN AND I'M

2:00:46WITH THE WELCOME HOME COALITION,

2:00:48A HOUSING JUSTICE ALLIANCE IN

2:00:49THE PORTLAND METRO. I'M HERE

2:00:51TODAY TO STRONGLY ENCOURAGE YOU

2:00:53TO VOTE YES AND PASS THE FAIR

2:00:54SHARE TAX. THIS TAX IS SO

2:00:57COMMON SENSE AND THOUGHTFULLY

2:00:58CRAFTED, IT SHOULD BE EASY TO

2:01:00SAY, YES, WE LIVE IN INSANE

2:01:02WEALTH INEQUALITY AND IT'S

2:01:03LITERALLY MAKING OUR SOCIETY

2:01:05SICK. THERE'S A POPULAR STORY

2:01:07BEING TOLD THAT THE RICH ARE

2:01:09SUFFERING, AND THAT THEY MAKE

2:01:09ALL THE JOBS, AND THAT THEY

2:01:11WILL LEAVE ALL THE CITIES IF

2:01:12THEY HAVE TO PAY THEIR FAIR

2:01:14SHARE. THIS ARGUMENT IS TIRED

2:01:15AND HAS BEEN USED OVER AND OVER,

2:01:17AND IT FAILS TO COME TRUE.

2:01:19CORPORATIONS ARE NOT GOING TO

2:01:20STOP SELLING STUFF TO THE

2:01:21PEOPLE OF PORTLAND. LET'S

2:01:23GROUND OURSELVES IN REAL DOLLAR

2:01:24AMOUNTS OF CORPORATE SALARIES.

2:01:27STARBUCKS CEO MAKES $31 MILLION

2:01:29A YEAR, AND THE AVERAGE

2:01:30STARBUCKS BARISTA MAKES 30,000

2:01:31A YEAR. T-MOBILE CEO MAKES 35

2:01:35MILLION A YEAR. THE AVERAGE

2:01:36CUSTOMER SERVICE REP MAKES

2:01:3742,000 A YEAR. NIKE CEO MAKES

2:01:4036 MILLION A YEAR. THE AVERAGE

2:01:42RETAIL STORE MANAGER MAKES 60KA

2:01:44YEAR. IF YOU SPENT $20,000

2:01:47EVERY DAY, IT WOULD TAKE YOU

2:01:49FIVE YEARS TO SPEND THE NIKE

2:01:51CEO'S ANNUAL EARNINGS. THAT IS

2:01:53CRAZY TO THINK ABOUT SPENDING

2:01:56$20,000 EVERY DAY FOR FIVE

2:01:57YEARS. ANOTHER BEAUTIFUL ASPECT

2:01:59OF THIS ORDINANCE IS A

2:02:01CORPORATION DOESN'T WANT TO PAY

2:02:03IT. THEY CAN JUST PAY THEIR CEO

2:02:05LESS AND THEIR WORKERS MORE, OR

2:02:06HAVE MORE MONEY TO HIRE MORE

2:02:08WORKERS, WHICH IN TURNS MEAN

2:02:09MORE PEOPLE ARE THRIVING

2:02:10OVERALL. AND IF THEY DON'T,

2:02:12THEN THEY NEED TO CHIP IN TO

2:02:14THE SOCIETY THAT THEY EXTRACT

2:02:16FROM BECAUSE THOUSANDS OF

2:02:17PEOPLE IN OUR CITY ARE LIVING

2:02:19IN TENTS, CARS, SHELTERS, AND

2:02:20WAITING IN LONG LINES FOR

2:02:21PLATES OF FOOD. AND SINCE I AM

2:02:23OFTEN HERE ASKING YOU ALL TO

2:02:25SPEND MONEY ON MAKING SURE

2:02:26HOUSING IS AFFORDABLE AND SAFE

2:02:27FOR EVERYONE WHO WANTS IT, I

2:02:29WOULD LIKE TO ASK THAT YOU

2:02:30ENSURE A PORTION OF THE FUNDS

2:02:32CREATED FROM THIS NEW TAX BE

2:02:33SPENT SPECIFICALLY ON

2:02:34INCREASING AFFORDABLE

2:02:36HOMEOWNERSHIP AND RENTAL

2:02:36HOUSING IN THE CITY. I HEAR YOU

2:02:38ALL DISCUSS THE HOUSING CRISIS

2:02:40ON AND ON, BUT WHEN IT COMES TO

2:02:42BIG INVESTMENTS IN HOUSING,

2:02:43THIS COUNCIL CONTINUES TO FALL

2:02:45SHORT. YOU LITERALLY HAD

2:02:47HOUSING BUREAU FUNDS THAT YOU

2:02:49RETURNED TO THE GENERAL FUND

2:02:50THIS YEAR. THAT IS NOT THE KIND

2:02:52OF INTENSE FOCUS AND BOLD

2:02:54INVESTMENTS THAT IS GOING TO

2:02:55MOVE THE NEEDLE IN THE HOUSING

2:02:57CRISIS. WE SAY NO KINGS A LOT

2:03:00LATELY IN PORTLAND, BUT DO WE

2:03:02REALLY MEAN IT BY VOTING YES TO

2:03:04THE FAIR SHARE TAX? THIS CITY

2:03:06COUNCIL CAN SHOW US THAT YOU

2:03:08STAND WITH WORKING PEOPLE AND

2:03:09SMALL BUSINESS OWNERS, AND THAT

2:03:11YOU DO NOT WANT TO BE RULED BY

2:03:12THE KINGS AND QUEENS OF

2:03:15CORPORATE ROYALTY. THANKS FOR

2:03:16YOUR TIME AND DO THE RIGHT

2:03:18THING. MATTHEW. BARNABY.

2:03:24>> GOOD MORNING COUNCIL. MY

2:03:26NAME IS BARNABY RUIZ AND FIRST

2:03:30OF ALL, I WANT TO THANK YOU FOR

2:03:32LISTENING TO ME. NINE YEARS AGO,

2:03:36ALMOST TEN, I MOVED TO

2:03:38NORTHEAST PORTLAND, AND I'M A

2:03:41PERSON WITH VISUAL IMPAIRMENT,

2:03:43WHICH MEANS THAT I'M BLIND. AND

2:03:47THE REASON I'M TALKING IN FAVOR

2:03:50OF THIS PROPOSAL IS BECAUSE I

2:03:52WOULD LIKE TO SEE SOME OF THAT

2:03:54MONEY, INVEST IN PUBLIC

2:03:57INFRASTRUCTURE AND

2:03:59TRANSPORTATION INSTEAD OF THOSE

2:04:01CEOS AND CORPORATIONS POCKETS.

2:04:05THROUGH THOSE NINE YEARS, I'VE

2:04:07BEEN CATCHING THE BUS ON THE

2:04:10CORNER OF MLK, MARTIN LUTHER

2:04:12KING AND FAILING. AND IN THE

2:04:14BEGINNING, THE BUS JUST TO

2:04:16COMES EVERY TEN, EVERY 15

2:04:18MINUTES. AND NOW IT COMES EVERY

2:04:2020 MINUTES, SOMETIMES EVERY 30

2:04:23MINUTES, WHICH MAKES SOMETIMES

2:04:25IMPOSSIBLE TO GET TO OUR

2:04:27APPOINTMENTS OR TO OUR JOBS ON

2:04:30TIME. AND THE BUILDING I LIVED

2:04:36ON HAS NO WHEELCHAIR ACCESS,

2:04:38WHICH MEANS THERE ARE BEING

2:04:39BLIND. I CAN LIVE THERE, BUT A

2:04:41PERSON WITH WHEELCHAIR IS IS

2:04:45NOT THERE IS NOT ALLOWED, BUT

2:04:46IT'S IMPOSSIBLE FOR THEM TO

2:04:47LIVE IN THAT BUILDING. THEY

2:04:52SIDEWALKS DOESN'T HAVE. THEY DO

2:04:54NOT HAVE RAMPS FOR WHEELCHAIRS

2:04:58TO GET AROUND. ON TOP OF THAT,

2:05:01THEY ARE. THEY GOT CRACKS

2:05:03BECAUSE OF TIME AND SOMETIMES

2:05:05HAVE TRIPPED ON THOSE CRACKS.

2:05:06THAT'S HOW I KNOW SOME SOME OF

2:05:11MY FRIENDS LIVE IN THE STREETS.

2:05:14THEY ARE HOMELESS. THEY ARE NOT

2:05:15AS FORTUNATE AS ME. THEY DON'T

2:05:17HAVE A PLACE TO LIVE. AND

2:05:18BECAUSE OF THAT, I WOULD LIKE

2:05:20TO SEE SOME OF THAT MONEY AS

2:05:22WELL. INVEST IN HOUSING. AND

2:05:25BECAUSE ONE OF MY FRIENDS IN

2:05:27PARTICULAR JUST GOT A HOUSE

2:05:29LAST WEEK AFTER FOUR AND A HALF

2:05:31YEARS LIVING IN THE STREETS,

2:05:34BUT A LOT OF THEM ARE NOT AS

2:05:36FORTUNATE AS YOU KNOW. AND I

2:05:38WOULD LIKE TO SEE SOME OF THAT

2:05:40MONEY INVEST IN THAT. AND ON

2:05:41TOP OF THAT, I LOST MY FAVORITE

2:05:43TACO CAR BECAUSE THEY CAN

2:05:45AFFORD TO RENT IN THERE ANYMORE,

2:05:46YOU KNOW, AND I'M MEXICAN, I

2:05:48LOVE MEXICAN FOOD. AND NOW I

2:05:51HAVE TO GO AWAY TO FAR AWAY.

2:05:53BUT THAT IS THAT IS THE LEAST

2:05:55OF THE PROBLEMS I WOULD LIKE.

2:05:57AND I ENCOURAGE YOU GUYS TO

2:05:59SUPPORT THIS PROPOSAL TODAY FOR

2:06:03WE TO SEE BETTER INFRASTRUCTURE,

2:06:05BETTER TRANSPORTATION, AND

2:06:08OVERALL A BETTER LIVING FOR THE

2:06:11PEOPLE OF PORTLAND THAT I LOVE

2:06:12SO MUCH.

2:06:17>> ALL RIGHT.

2:06:19>> THANK YOU COUNCILORS. MY

2:06:21NAME IS ESTHER LEONE. I LIVE IN

2:06:23THE BROOKLYN NEIGHBORHOOD WHERE

2:06:24OUR LOCAL BUSINESS SCENE IS

2:06:26STRUGGLING. CURRENTLY, I AM

2:06:27RUNNING FOR A SEAT ON CITY

2:06:29COUNCIL, AND IN THAT JOURNEY,

2:06:30I'VE BEEN HEARING DIRECTLY FROM

2:06:33PORTLAND'S SMALL BUSINESS,

2:06:34SMALL BUSINESS OWNERS ABOUT THE

2:06:36EXTREMELY TIGHT MARGINS THEY

2:06:38ARE WORKING WITH. MANY BREAK

2:06:40EVEN JUST ENOUGH TO KEEP THEIR

2:06:42DOORS OPEN, BUT NEVER ENOUGH TO

2:06:43TAKE A DAY OFF. WE ARE LIVING

2:06:45THROUGH THE MOST EGREGIOUS

2:06:48WEALTH INEQUALITY SINCE THE

2:06:49YEARS LEADING UP TO THE CIVIL

2:06:52WAR, WITH 1% OF OUR NATIONAL

2:06:55POPULATION OWNING MORE WEALTH

2:06:57THAN 90% OF US COMBINED. THIS

2:06:59IS NOT A RESULT OF MERIT. IT IS

2:07:02NOT THE RESULT OF HARD WORK ON

2:07:05THE PART OF THE RICH, NOR IS IT

2:07:08A RESULT OF POOR WORK ETHIC ON

2:07:10BEHALF OF THE REST OF US. IT IS

2:07:13A MANUFACTURED STATE, DIRECTLY

2:07:16ENABLED BY GOVERNMENT LEADERS

2:07:17WHO PROVIDED TAX BREAK AFTER

2:07:20SUBSIDY, AFTER LOAN FORGIVENESS,

2:07:23AFTER BAILOUTS TO MEGA

2:07:25CORPORATIONS FUNDING THEIR

2:07:26CAMPAIGNS. LAST MONTH, FORTUNE

2:07:30MAGAZINE REPORTED THAT AMAZON'S

2:07:32WORKERS RECEIVING FOOD STAMPS

2:07:33HAVE TRIPLED SINCE 2020,

2:07:37DESPITE RECORD REVENUE. UBER

2:07:39AND LYFT CONTINUE TO RAISE

2:07:41RIDESHARE COSTS WITHOUT

2:07:43PROVIDING THEIR EMPLOYEES

2:07:45BENEFITS. STARBUCKS CONTINUES

2:07:47ITS UNION BUSTING EFFORTS WHILE

2:07:50CAPITALIZING OFF OF PACIFIC

2:07:51NORTHWEST PRIDE. COMPANIES LIKE

2:07:55THESE HAVE CLEARLY DEMONSTRATED

2:07:56THAT THEY, IN FACT, HAVE NO

2:07:59INTENTION TO REINVEST CONSUMER

2:08:00DOLLARS BACK INTO THE POCKETS

2:08:02OF THE WORKING CLASS. IT'S TIME

2:08:05TO STOP BEING AFRAID OF WHAT

2:08:07THEY WILL DO IF WE RISE UP AND

2:08:09INSTEAD MAKE THEM PAY THEIR

2:08:10FAIR SHARE. THE BEAUTY OF THIS

2:08:13AMENDMENT IS THAT IT ONLY

2:08:14TARGETS COMPANIES WHOSE CEOS

2:08:16ARE MAKING 50 TIMES OR MORE

2:08:19THAN THEIR MEDIAN PAID WORKER.

2:08:21AND FOR ONCE, THE FOLKS I KNOW

2:08:23ARE POURING THEIR HEART AND

2:08:24SOUL INTO OUR COMMUNITY GET A

2:08:26WELL DESERVED BREAK. MY

2:08:29NEIGHBORS REMEMBER A TIME WHEN

2:08:31ALL YOU COULD FIND IN PORTLAND

2:08:32WERE MOM AND POP SHOPS. IT'S

2:08:34HOW KEEP PORTLAND WEIRD WAS

2:08:36BORN. WE HAVE A MORAL

2:08:39OBLIGATION TO REVERSE THE

2:08:42PATHOLOGICAL WEALTH HOARDING

2:08:44THAT IS LITERALLY PUTTING

2:08:46PORTLANDERS OUT OF HOUSE AND

2:08:47HOME. THIS TAX WOULD NOT ONLY

2:08:49CHANGE THE LIVES OF 18,000

2:08:51SMALL BUSINESS OWNERS, BUT IT

2:08:53WOULD REVITALIZE EVERY

2:08:55NEIGHBORHOOD IN THE CITY WE

2:08:56LOVE. I URGE YOU TO PASS THE

2:08:58FAIR SHARE TAX. YOUR VOTE ON

2:09:01THIS AMENDMENT SENDS A CLEAR

2:09:03SIGNAL OF WHOSE INTERESTS YOU

2:09:04ARE TRULY WORKING FOR. I

2:09:07SINCERELY HOPE IT IS FOR THE

2:09:09OVERWHELMING MAJORITY OF

2:09:12PORTLANDERS. THANK YOU.

2:09:17>> HELLO CITY COUNCILORS. GOOD

2:09:19MORNING. MY NAME IS LAUREN AND

2:09:21I HAVE THE PRIVILEGE OF BEING

2:09:22HERE BECAUSE I WORK WITH

2:09:24WELCOME HOME. BUT I WAS BORN IN

2:09:27D4, RAISED IN D3 AND HAVE LIVED

2:09:29IN D2 AND D1. I LOVE PORTLAND

2:09:32AND THAT'S WHY I'M URGING YOU

2:09:33TO VOTE YES TO MOVE FORWARD

2:09:35WITH THE FAIR SHARE TAX. I'M SO

2:09:37GLAD TO HEAR OTHER FOLKS BRING

2:09:38UP RIGHT SIZING AND COFFEE

2:09:39PEOPLE, BECAUSE THAT'S WHAT

2:09:40CAME UP FOR ME TOO. AND. I'M SO

2:09:46GLAD THAT OTHER PEOPLE BROUGHT

2:09:48UP A LOT OF GREAT FACTS,

2:09:49BECAUSE THEN I CAN JUST TALK

2:09:50ABOUT ME AND MY FRIENDS AND MY

2:09:52NEIGHBORS. RIGHT? SO RIGHT

2:09:53SIZING IS USUALLY USED TO

2:09:55RATIONALIZE THE TRIMMING AND

2:09:57CUTTING AND GUTTING OF OUR

2:09:59SOCIAL AND PUBLIC SERVICES, BUT

2:10:02YOU ALL HAVE THE OPPORTUNITY TO

2:10:06RIGHT SIZE A POLICY TO INCREASE

2:10:08LOCAL FUNDING AND RESOURCES.

2:10:11THAT'S INCREDIBLE. HOW OFTEN

2:10:13HAS THAT HAPPENED IN THE LAST

2:10:14COUPLE OF YEARS? I'VE TESTIFIED

2:10:18IN FRONT OF YOU BEFORE TO SHARE

2:10:19WHAT IT WAS LIKE TO GROW UP

2:10:21HERE AND HOW IT HAS FELT TO BE

2:10:23PRICED OUT AND HOMELESS IN YOUR

2:10:25HOMETOWN, WHERE I'VE SAID I

2:10:28HAVE TO CHOOSE BETWEEN

2:10:30RETIREMENT, HAVING A CHILD, OR

2:10:31OWNING A HOME. AND YOU CAN ADD

2:10:33OWNING A SMALL BUSINESS,

2:10:34STARTING A SMALL BUSINESS TO

2:10:36THAT. I GREW UP AROUND THE

2:10:38CORNER FROM THE COFFEE PEOPLE

2:10:39ON HAWTHORNE SHOUT OUT IF YOU

2:10:40KNOW, YOU KNOW. AND BACK IN THE

2:10:42DAY, THEY WOULD PUT GUMMY BEARS

2:10:44FOR FREE ON THE THE HOT COCOA

2:10:46LIDS FOR LITTLE KIDS. SO I

2:10:47WOULD GO THERE AND I'D BE LIKE,

2:10:49I'M GETTING MY GUMMY BEARS, I'M

2:10:51GETTING MY HOT COCOA. WE'RE

2:10:52GOING TO KIDS AT HEART ACROSS

2:10:53THE STREET. AND I CANNOT TELL

2:10:56YOU HOW MUCH MY YOUNG LIFE WAS

2:10:58FILLED WITH SO MUCH SIMPLE JOY

2:10:59AND MAGIC. JUST FROM BEING ABLE

2:11:01TO DO THAT. WE DIDN'T EVEN BUY

2:11:03STUFF AT KIDS AT HEART. LET'S

2:11:04BE REAL, WE WERE STILL WORKING

2:11:06CLASS. AND ALTHOUGH THERE ARE

2:11:07STILL PLENTY OF SMALL

2:11:08BUSINESSES ON HAWTHORNE, NOT

2:11:09MANY OF THEM ACTUALLY SERVE

2:11:11CHILDREN. AND IF THEY DO, THEIR

2:11:13MARGINS ARE FAR TOO SLIM TO PUT

2:11:15THOSE GUMMY BEARS ON THE HOT

2:11:17COCOA LIDS, IF YOU KNOW WHAT I

2:11:18MEAN. SMALL BUSINESS OWNERS ARE

2:11:21ACTUALLY REALLY BUSY DONATING

2:11:25TO NONPROFITS LIKE WELCOME HOME

2:11:26COALITION, FILLING SERVICE AND

2:11:29KINDNESS GAPS TO PEOPLE IN OUR

2:11:31CITY. AND YES, KEEPING PORTLAND

2:11:33WEIRD. THIS IS NOT A PANACEA.

2:11:36I'M NOT NAIVE, BUT IT'S AN EASY

2:11:38STEP IN THE RIGHT DIRECTION.

2:11:40AND ALTHOUGH $900 DOESN'T SOUND

2:11:42LIKE A LOT, IT CAN STILL BUY A

2:11:44LOT OF GUMMY BEARS EVEN IN THIS

2:11:46ECONOMY. SO THANK YOU FOR

2:11:49GIVING ME THE OPPORTUNITY TO

2:11:50SPEAK. PLEASE MAKE THE COMMON

2:11:52SENSE CHOICE TO VOTE YES TO

2:11:54PASS ON THE FAIR SHARE TAX.

2:11:55THANK YOU. I THINK THAT'S ALL

2:12:00OF US UP HERE.

2:12:01>> AMY THOMAS, CHRIS GUSTAFSON,

2:12:05DEVIN RUIZ, KAITLYN CHANNING,

2:12:08NOAH. BERNSTEIN. HANLEY. ROWAN.

2:12:17HARVEY.

2:12:23>> GOOD MORNING COUNCILORS.

2:12:25>> MY NAME IS CHRISTOPHER

2:12:27GUSTAFSON. I LIVE IN DISTRICT

2:12:30THREE. I AM A THE TREASURER OF

2:12:32THE CITY OF PORTLAND

2:12:33PROFESSIONAL WORKERS UNION. AND

2:12:35TODAY I HAVE THE PLEASURE OF

2:12:38ADDRESSING YOU AS A

2:12:39REPRESENTATIVE OF MY UNION

2:12:40RATHER THAN A PRIVATE

2:12:42INDIVIDUAL, AS I USUALLY DO. I

2:12:44WOULD URGE YOU ALL TO SUPPORT

2:12:47THE AMENDMENT TO THE FAIR SHARE

2:12:49TAX FOR THREE SPECIFIC REASONS.

2:12:53ONE, THIS IS PROGRESSIVE TAX

2:12:56POLICY THAT ACKNOWLEDGES THE

2:12:58EXCESSIVE CEO COMPENSATION AND

2:13:00THE EXTRACTIVE NATURE OF THE

2:13:02LARGE CORPORATIONS THAT OPERATE

2:13:04IN THE CITY OF PORTLAND. TWO

2:13:07THIS SUPPORTS SMALL BUSINESSES,

2:13:09WHICH ARE THE BACKBONE OF OUR

2:13:11LOCAL ECONOMY, AND PARTICULARLY

2:13:13FOR THOSE BUSINESSES THAT ARE

2:13:14RUN BY OWNER OPERATORS. THIS IS

2:13:17A GREAT WAY TO INCENTIVIZE

2:13:19THOSE FOLKS TO CONTINUE TO

2:13:21OPERATE THOSE BUSINESSES AND TO

2:13:23KEEP THAT LABOR VALUE THAT IS

2:13:24EARNED WITHIN THE CITY OF

2:13:25PORTLAND, AS OPPOSED TO BEING

2:13:27EXTRACTED AND HOARDED BY

2:13:30WEALTHY SHAREHOLDERS. THIRD, WE

2:13:33URGE YOU TO SUPPORT THIS

2:13:34BECAUSE THIS DIRECTLY AFFECTS

2:13:36MY MEMBERSHIP. THE CITY OF

2:13:38WORKER, THE CITY OF PORTLAND

2:13:39WORKERS. WE ARE EVERYDAY

2:13:42PORTLANDERS, AND WE PROVIDE

2:13:43THOSE ESSENTIAL SERVICES THAT

2:13:45THE CITY, THE. THE CITIZENS OF

2:13:47THE CITY OF PORTLAND RELY ON.

2:13:50AND IT WOULD BE THRILLING IF WE

2:13:52COULD AVOID HAVING A THIRD YEAR

2:13:55IN A ROW, THIS BEING THE SECOND

2:13:57YEAR IN A ROW WHERE WE ARE

2:13:59CURRENTLY UNDERGOING A STRIKE

2:14:00AUTHORIZATION VOTE TO ASK FOR

2:14:02FAIR COMPENSATION FOR OUR

2:14:04MEMBERS SO THAT THEY CAN LIVE

2:14:05AND THRIVE IN THE CITY THEY

2:14:07SUPPORT, OR THEY LIVE IN AND

2:14:09WORK FOR. AND FINALLY, I REALLY

2:14:12APPRECIATE A ONE OF THE EARLIER

2:14:14SPEAKERS MENTIONING SOMETHING

2:14:15THAT HAS BEEN HIGH ON MY MIND

2:14:17AND THAT THAT IS THAT WITH ANY

2:14:21LUCK, WE CAN AVOID A REPEAT OF

2:14:23WHAT HAPPENED IN THE SPRING

2:14:24TOWN WHERE WE TOOK $8.6 MILLION

2:14:27OF MONEY THAT WAS PROGRAMED FOR

2:14:28AFFORDABLE RENTAL HOUSING TO

2:14:31FILL THE GENERAL FUND GAP. SO

2:14:34THANK YOU VERY MUCH FOR THE

2:14:36OPPORTUNITY, AND I URGE YOU TO

2:14:38SUPPORT THIS, THIS AMENDMENT TO

2:14:41THE TO THE ORDINANCE. THANK YOU

2:14:42VERY MUCH.

2:14:48>> OKAY.

2:14:49>> THANK YOU. COUNCIL. MY NAME

2:14:51IS NOAH BERNSTEIN. SOME OF YOU

2:14:53MAY RECOGNIZE MY NAME AS A

2:14:54MEMBER OF THE FINANCIAL

2:14:55STABILIZATION AND RECOVERY WORK

2:14:57GROUP, CO-LED BY COUNCILORS

2:14:59GREENE AND ZIMMERMAN. OTHERS

2:15:01MAY KNOW ME AS YOUR FRIENDLY

2:15:02DEE-TWO BAGEL GUY HEADING UP

2:15:04BERNSTEIN'S BAGELS ON NORTH

2:15:05RUSSELL STREET. I'M ALSO A

2:15:07WORKING MUSICIAN, RESIDENT OF

2:15:09DISTRICT TWO, STEPFATHER TO A

2:15:11RAD 22 YEAR OLD PORTLANDER, AND

2:15:12I'M HERE TODAY TO GIVE MY

2:15:14EMPHATIC SUPPORT FOR THE FAIR

2:15:15SHARE TAX IN THE FINANCIAL

2:15:18STABILIZATION WORK GROUP, WE

2:15:19TALKED ABOUT HOW ROUGHLY 80% OF

2:15:21THE GENERAL FUND COMES FROM

2:15:23PROPERTY TAXES AND THE BUSINESS

2:15:25LICENSE TAX. A FULL THIRD OF

2:15:27THE DISCRETIONARY BUDGET COMES

2:15:28FROM BUSINESS LICENSE TAXES.

2:15:30PROPERTY TAXES ARE CAPPED BY

2:15:32MEASURES FIVE AND 50, SOMETHING

2:15:34THAT MANY HERE SEE AS A

2:15:35POLITICAL NONSTARTER TO AMEND.

2:15:38SO I THINK IF YOU'RE AGAINST

2:15:39THE PROPOSED CEO PAY RATIO

2:15:41SURTAX, YOU NEED TO ASK

2:15:42YOURSELVES IF YOU'RE REALLY

2:15:43GOING TO FUND PORTLAND'S

2:15:45FINANCIAL RECOVERY BY GRINDING

2:15:46DOWN SMALL BUSINESSES AND THE

2:15:48WORKING CLASS, OR ARE YOU JUST

2:15:50HOPING FOR MEGA CORPORATIONS TO

2:15:51BECOME MORE UBIQUITOUS AND

2:15:53PROFITABLE AND WORKING CLASS BE

2:15:55DAMNED? BECAUSE WE CAN'T KEEP

2:15:57CUTTING. WE'RE TALKING ABOUT

2:15:58CLOSING 14 SCHOOLS, AND I THINK

2:16:00THAT'S UTTERLY SHAMEFUL AS A

2:16:02SOCIETY, AT A CERTAIN POINT, WE

2:16:04NEED TO FIND MORE MONEY TO PUT

2:16:05INTO THE BUDGET. AND I THINK

2:16:07EVERY SINGLE PERSON IN THIS

2:16:08ROOM KNOWS WHERE THE MONEY IS.

2:16:10PORTLAND PRIDES ITSELF ON BEING

2:16:12A SMALL BUSINESS TOWN, AND I'M

2:16:13SURE ALL OF YOU CHAMPION US

2:16:15WHEN TALKING TO YOUR

2:16:16CONSTITUENTS. WE ARE 94% OF ALL

2:16:19PORTLAND BUSINESSES AND EMPLOY

2:16:2135% OF THE WORKFORCE. OUR

2:16:23STREET LEVEL SHOPS ARE THE

2:16:24LITERAL FACE OF THE CITY. WE

2:16:25ARE ALSO THE FRONT LINE WHEN

2:16:27PORTLAND PULLS BACK CORE

2:16:29SERVICES FOR OUR HOUSELESS

2:16:30NEIGHBORS, MY EMPLOYEES AND I

2:16:32GIVE OUT FREE BAGELS AND COFFEE

2:16:33EVERY DAY TO FOLKS IN NEED.

2:16:35WE'RE A PLACE TO WARM UP AND

2:16:36GET OUT OF THE RAIN, USE THE

2:16:38BATHROOM WITHOUT NEEDING TO

2:16:39PURCHASE ANYTHING. WE ARE TRASH

2:16:41SERVICE AND STREET CLEANING.

2:16:43CRISIS RESPONSE. AMAZON JUST

2:16:46MOVED INTO A FLEX WAREHOUSE

2:16:48NEXT DOOR TO OUR SHOP AND

2:16:49DIDN'T PROVIDE BATHROOMS FOR

2:16:50THEIR EMPLOYEES. SO DELIVERY

2:16:52DRIVERS COME AND USE OURS. I

2:16:54DON'T ASK FOR ANYTHING OR GET

2:16:56ANYTHING IN RETURN FOR ALL OF

2:16:57THIS, BUT TODAY I'M ASKING FOR

2:16:58THE HUGE CORPORATIONS DOING

2:17:00BUSINESS IN PORTLAND TO PAY

2:17:01THEIR SHARE. GIANT CORPORATIONS

2:17:03ARE ENJOYING A RAFT OF TAX

2:17:04BREAKS AT THE FEDERAL LEVEL

2:17:06WHILE OUR LOCAL FUNDING DRIES

2:17:07UP, CEO PAY PACKAGES SKYROCKET

2:17:10AND AVERAGE WORKERS WAGES ARE

2:17:12STAGNANT. IN THE MIDDLE OF A

2:17:13CITYWIDE ECONOMIC CRISIS, THE

2:17:16CONSOLIDATION AND MERGERS AT

2:17:17THE TOP HAVE ANNIHILATED ANY

2:17:18CHANCE OF COMPETITION. IT'S

2:17:20TIME YOU ALL DIDN'T GET ELECTED

2:17:23TO GET REELECTED. YOU'RE HERE

2:17:25TO DO THE HARD THING, WHICH I

2:17:26THINK SOUNDS PRETTY EASY. AND

2:17:27TAX THE RICH. YES TO THE CEO

2:17:30PAY RATIO SURTAX AND YES TO THE

2:17:32BLT EXEMPTIONS FOR SMALL

2:17:34BUSINESSES. IT'S A SMALL BUT

2:17:36IMPORTANT FIRST STEP THAT CITY

2:17:37COUNCIL CAN MAKE TO SHOW YOU'RE

2:17:39ACTUALLY ON THE SIDE OF SMALL

2:17:40BUSINESSES AND THE PEOPLE OF

2:17:41PORTLAND, I THINK COUNCILORS

2:17:43GREENE AND MORILLO FOR PUTTING

2:17:44FORTH THIS PROPOSAL. THANKS FOR

2:17:46YOUR TIME.

2:17:51>> HI, MY NAME IS CAITLIN

2:17:53CHANNING. I USE SHE HER

2:17:54PRONOUNS AND I'M HERE TO ASK

2:17:55THE COUNCIL TO VOTE YES ON THE

2:17:57FAIR SHARE TAX. I'M A RESIDENT

2:17:59OF DISTRICT FOUR AND LIKE THE

2:18:00MAJORITY OF MULTNOMAH COUNTY

2:18:01RESIDENTS, I'VE CHOSEN TO MAKE

2:18:02THE PROUD STATE OF OREGON MY

2:18:04HOME AFTER BEING BORN ELSEWHERE.

2:18:06IN MY CASE, I MOVED TO PORTLAND

2:18:08FROM MY HOME STATE OF LOUISIANA

2:18:09LAST YEAR TO TAKE A JOB AS AN

2:18:11ICU NURSE AT PROVIDENCE SAINT

2:18:13VINCENT. SINCE MOVING, I'VE

2:18:15ENJOYED HIGHER WAGES AND A

2:18:16HIGHER QUALITY OF LIFE THAN I

2:18:17COULD HAVE EVER FOUND BACK IN

2:18:19LOUISIANA. I BRING ALL THIS UP

2:18:21BECAUSE FOR MY ENTIRE LIFE,

2:18:22LOUISIANA HAS HAD SOME OF THE

2:18:24MOST GENEROUS CORPORATE TAX

2:18:25SUBSIDIES IN THE COUNTRY.

2:18:27LOUISIANA HAS SLASHED CORPORATE

2:18:29TAXES MORE THAN OREGON HAS CUT

2:18:31GOVERNMENT SERVICES MORE THAN

2:18:32OREGON, AND HAS SHIFTED THE TAX

2:18:34BURDEN TO CONSUMERS WITH HIGH

2:18:36SALES TAXES. AND SURELY

2:18:37LOUISIANA'S ECONOMY IS THRIVING,

2:18:38RIGHT? YEAH. OVER MY LIFETIME,

2:18:42LOUISIANA, LIKE OREGON, HAS

2:18:44OUTPACED THE NATIONAL AVERAGE

2:18:45IN GDP GROWTH. BUT WHILE OREGON

2:18:47HAS ALSO OUTPACED THE AVERAGE

2:18:50IN GDP GROWTH, THEY HAVE ALSO

2:18:53INCREASED OUTPACED THE AVERAGE

2:18:55IN WORKER PRODUCTIVITY GROWTH

2:18:56PER CAPITA, PERSONAL INCOME

2:18:58GROWTH AND WAGE GROWTH FOR OUR

2:19:00LOWEST PAID WORKERS. LOUISIANA

2:19:02HAS RANKED NEAR THE BOTTOM IN

2:19:03ALL THREE CATEGORIES. WAGES ARE

2:19:06LOW, CORPORATE PROFITS ARE HIGH,

2:19:07AND SMALL BUSINESSES IN

2:19:09LOUISIANA STRUGGLE TO COMPETE.

2:19:11THAT'S WHY YOUNG, COLLEGE

2:19:12EDUCATED PROFESSIONALS LIKE

2:19:13MYSELF, AND FRANKLY, MOST OF

2:19:15THE NURSES I'VE WORKED WITH

2:19:16HERE HAVE FLED FAILING STATES

2:19:18LIKE LOUISIANA IN DROVES FOR

2:19:21PROGRESSIVE, PRODUCTIVE CITIES

2:19:23THAT ARE WILLING TO STAND UP

2:19:24FOR THEIR WORKERS. SO I WILL

2:19:27CONCLUDE BY INVITING THE

2:19:28MEMBERS OF THE COUNCIL TO VOTE

2:19:29YES ON THE FAIR SHARE TAX

2:19:31ORDINANCE, TO LEARN FROM THE

2:19:33LESSON OF MY HOME STATE. AND

2:19:34I'LL ALSO FINISH WITH A WARNING

2:19:36TO ANY COUNCILORS WHO ARE

2:19:37RELUCTANT TO DO SO. THIS IS AN

2:19:39ELECTION YEAR, AND ACROSS THE

2:19:41COUNTRY, VOTERS ARE TURNING OUT

2:19:43IN RECORD NUMBERS FOR

2:19:44CANDIDATES RUNNING ON PLATFORMS

2:19:46OF TAXING THE RICH. IT IS NOT

2:19:48JUST ZORRA MAMDANI, IT IS TROY

2:19:50JACKSON IN MAINE. IT IS ABDUL

2:19:52EL-SAYED. IN MICHIGAN, IT IS

2:19:53JAMES TALARICO IN TEXAS AND

2:19:55JOSH TUREK IN IOWA. PURPLE AND

2:19:58RED STATES AND BLUE STATES

2:20:00ALIKE. THE WRITING IS ON THE

2:20:01WALL. AMERICANS ARE DEMANDING

2:20:03THAT OUR LEADERS TELL WEALTHY

2:20:05CORPORATIONS TO PAY THEIR FAIR

2:20:07SHARE. VOTERS ARE TURNING OUT.

2:20:09FOR THOSE ELECTEDS WHO HAVE THE

2:20:10COURAGE TO RISE TO THE MOMENT.

2:20:12AND WE'RE TOSSING OUT ELECTEDS

2:20:13WHO WOULD RATHER PROTECT LARGE

2:20:15CORPORATIONS THAN THEIR WORKING

2:20:16CLASS CONSTITUENTS. I'M PLEASED

2:20:18THAT ONE OF MY DISTRICT FOUR

2:20:21COUNCILORS, COUNCILOR GREEN,

2:20:22HAS ALREADY EXPRESSED SUPPORT

2:20:23FOR THIS MEASURE, AND I HOPE MY

2:20:25OTHER COUNCILORS, COUNCILORS,

2:20:27CLARK AND ZIMMERMAN, AS WELL AS

2:20:29THE REST OF THE COUNCIL, WILL

2:20:30DO THE SAME. THANK YOU.

2:20:37>> OKAY. GOOD MORNING

2:20:38COUNCILORS. MY NAME IS ROHAN

2:20:39HARVEY. I'M A DISTRICT THREE

2:20:41RESIDENT AND ORGANIZER WITH

2:20:42NEXT UP ACTION FUND, THE

2:20:43POLITICAL HOME FOR YOUNG PEOPLE.

2:20:45AND I'M HERE IN SUPPORT OF THE

2:20:46FAIR SHARE TAX ORDINANCE. I WAS

2:20:50BORN AT SAINT VINCENT'S.

2:20:51ACTUALLY, I'VE LIVED HERE MY

2:20:54WHOLE LIFE. I HAVE WATCHED THE

2:20:56CITY CHANGED A LOT AS A LOT OF

2:20:59US HAVE, AND AS WORKING PEOPLE

2:21:00STRUGGLE TO GET OUT OF THE

2:21:01RUTHLESS CHECK TO CHECK CYCLE,

2:21:03CEOS ARE RAKING IT IN WHILE

2:21:04YOUNG PEOPLE ARE DECIDING

2:21:06BETWEEN FOOD AND RENT, AND

2:21:08PARENTS ARE WORRIED ABOUT WHAT

2:21:10THEIR KIDS ARE GOING TO EAT AT

2:21:11SCHOOL, OR IF THEIR SCHOOL WILL

2:21:13EVEN BE OPEN. BILLIONAIRES ARE

2:21:15ARTIFICIALLY INFLATING THE

2:21:16PRICES OF OUR GROCERIES AND GAS

2:21:18TO MAKE MORE MONEY. I WANT MORE

2:21:20FOR US. I WANT MORE FUNDING FOR

2:21:21OUR SCHOOLS, FOR OUR

2:21:22TRANSPORTATION AND

2:21:23INFRASTRUCTURE, FOR PSR, FOR

2:21:24THE SERVICES THAT TAKE CARE OF

2:21:26US. UPDATING THE FAIR SHARE TAX

2:21:28HELPS US GET THERE. I RECOGNIZE

2:21:30THAT TODAY IS JUST THE FIRST

2:21:31STEP, BUT IT'S ONE THAT GIVES

2:21:33US THE OPPORTUNITY TO LEARN HOW

2:21:35WE CAN NOT ONLY DECREASE THE

2:21:36TAX BURDEN ON OUR SMALL

2:21:37BUSINESSES, WHICH COULD IN TURN,

2:21:39ENCOURAGE MORE YOUNG

2:21:40ENTREPRENEURS TO START THEIR

2:21:41BUSINESS, SOMETHING I'VE HEARD

2:21:44COUNCILORS ON THE DAIS EXPRESS

2:21:45GRAVE CONCERN OVER, BUT ALSO

2:21:47INCREASE A REVENUE SOURCE FOR

2:21:49PUBLIC SERVICES WE DEPEND ON

2:21:50WITHOUT FURTHER BURDENING

2:21:51WORKING PORTLANDERS. YET WE

2:21:53HAVE COUNCILORS CALLING FOR

2:21:55OPPOSITIONAL TESTIMONY. WHAT

2:21:57EXACTLY IS THERE TO OPPOSE

2:21:59TAXING CORPORATIONS AND CEOS

2:22:01WHILE GIVING SMALL BUSINESSES A

2:22:03TAX BREAK? IS IT FUNDING OUR

2:22:05BUDGET WITHOUT PASSING THE COST

2:22:06ONTO PORTLANDERS, ONLY TO SHRUG

2:22:07AND SAY, SORRY, THIS IS THE

2:22:09ONLY WAY. OPPOSITION TO NO

2:22:11LONGER DOING THE DIRTY WORK OF

2:22:12THE WEALTHY AND THEIR LOBBYISTS

2:22:14BY REPEATING THE FALSEHOOD THAT

2:22:15THEY WILL LEAVE IF WE TAX THEM.

2:22:17OR IS IT THE OPPOSITION TO

2:22:18PORTLAND LEADING THE WAY ON AN

2:22:20ISSUE THAT HAS BIPARTISAN

2:22:21SUPPORT NATIONALLY? THAT'S

2:22:24WEIRD. FOR TOO LONG,

2:22:26MILLIONAIRES AND BILLIONAIRES

2:22:26HAVE BENEFITED FROM THE MYTH OF

2:22:28THEIR EXTRAORDINARY

2:22:30INDIVIDUALISM, MAKING THEM MORE

2:22:31DESERVING OF EVERY DOLLAR LOW

2:22:33WAGE WORKERS EARN FOR THEM. SO

2:22:36IT'S PAST TIME THAT THEY PAY

2:22:37THEIR FAIR SHARE. I SEE MY TIME.

2:22:42>> DEVIN'S ONLINE. DEVIN, YOU

2:22:44CAN GO AHEAD.

2:22:46>> GOOD MORNING COUNCIL. MY

2:22:47NAME IS DEVIN RUIZ. I LIVE IN

2:22:49D2 AND I'M A REGISTERED

2:22:50LOBBYIST FOR. NEXT UP, WE'RE A

2:22:52NONPROFIT ORGANIZATION THAT

2:22:53WORKS TO AMPLIFY THE VOICE AND

2:22:54LEADERSHIP OF DIVERSE YOUNG

2:22:56PEOPLE TO ACHIEVE A MORE JUST

2:22:57AND EQUITABLE OREGON. NEARLY

2:22:59EVERY TIME I'VE STOOD BEFORE

2:23:00THIS COUNCIL, IT HAS BEEN TO

2:23:01PLEAD WITH EACH OF YOU TO

2:23:03CONSIDER THE AFFORDABILITY

2:23:04CRISIS THAT YOUNG PEOPLE ARE

2:23:05FACING AS THEY BUILD THEIR

2:23:07LIVES IN PORTLAND. WE ARE AT A

2:23:09POINT WHERE IT'S CONSIDERED A

2:23:10SPLURGE. IF PEOPLE GO OUT FOR

2:23:12DINNER OR HAVE A NIGHT OUT WITH

2:23:14FRIENDS. THERE ARE SO MANY

2:23:15SOCIETAL IMPACTS THAT COME FROM

2:23:16REDUCING YOUR LIFE TO WORKING,

2:23:17SLEEPING, AND REPEATING. WHEN

2:23:19YOUNG PEOPLE DON'T HAVE MONEY

2:23:21TO SPEND. THAT CUTS OFF SUPPORT

2:23:22FOR OUR LOCAL ECONOMY. AND

2:23:24TODAY, BEFORE COUNCIL, WE HAVE

2:23:26A SIMPLE SOLUTION THAT BENEFITS

2:23:27WORKERS, SMALL BUSINESSES AND

2:23:28THE LOCAL PORTLAND ECONOMY.

2:23:30YOUNG AND WORKING CLASS

2:23:32PORTLANDERS ARE ALREADY

2:23:33CONSISTENTLY ASKING FOR SAFETY

2:23:35NETS AND INVESTMENTS IN THE

2:23:37CITY. I SEE NO REASON WHY

2:23:39COUNCILORS ELECTED BY

2:23:40PORTLANDERS SHOULD BE MORE

2:23:41CONCERNED WITH THE POCKETS AND

2:23:42WEALTH CONCENTRATION OF CEOS

2:23:45AND BILLIONAIRES, INSTEAD OF

2:23:46SUPPORTING THE FAIR SHARE TAX.

2:23:48THE FAIR SHARE TAX WILL SUPPORT

2:23:50SMALL BUSINESSES, BRING MORE

2:23:51REVENUE TO THE GENERAL FUND,

2:23:53AND WILL ACT AS A MOTIVATOR FOR

2:23:55COMPANIES TO RECONCILE THAT

2:23:56GROSS DISPARITY BETWEEN CEO PAY

2:23:58AND MEDIAN WAGE, SOMETHING THAT

2:24:01DISPROPORTIONATELY IMPACTS

2:24:01YOUNG WORKERS. IF THIS COUNCIL

2:24:04GIVES INTO FEAR MONGERING TO

2:24:05RALLY PEOPLE AGAINST TAXING

2:24:06THOSE WITH THE MOST ABILITY TO

2:24:08PAY, I'M AFRAID OF WHAT OUR

2:24:10CITY WILL LOSE AS WE STEP INTO

2:24:12THE 2027 BUDGET SESSION AND

2:24:13BEYOND. WE HAVE A REVENUE

2:24:14PROBLEM BECAUSE WE REFUSE TO

2:24:16LOOK AT HOW WE CAN TARGET

2:24:18CORPORATIONS THAT ARE THE

2:24:19BIGGEST DRIVERS OF INEQUALITY.

2:24:21NEW BUSINESS OPENINGS HAVE

2:24:23DECLINED FOR DECADES NATIONALLY

2:24:25AND IN PORTLAND, AND WHILE THE

2:24:27GROWTH WEALTH DISPARITY OF CEOS

2:24:28HAS EXPONENTIALLY GROWN, IT IS

2:24:31INSULTING TO ASK SMALL

2:24:32BUSINESSES AND MEDIAN WAGE

2:24:34WORKERS TO ACCEPT THIS REALITY

2:24:35SO THAT CORPORATE LOBBYISTS CAN

2:24:37USE OUR ELECTED COUNCIL AS

2:24:39PAWNS FOR WEALTH HOARDING. THE

2:24:40BEST INTERESTS OF PORTLANDERS

2:24:42IS BEING PUSHED ASIDE AS WE

2:24:43WATCH COUNCILORS CALL FOR

2:24:45OPPOSITION TESTIMONY TO A

2:24:46POLICY THAT ONLY BENEFITS

2:24:48PEOPLE WHO LIVE, WORK AND BUILD

2:24:49IN OUR CITY. WHILE PEOPLE IN

2:24:51PORTLAND AND ACROSS THE COUNTRY

2:24:52ARE PAYING MORE FOR GAS AND

2:24:54GROCERIES THAN EVER BEFORE,

2:24:56CORPORATIONS LIKE SHELL

2:24:57REPORTED THEIR PROFITS MORE

2:24:58THAN DOUBLED TO 8.9 BILLION,

2:25:01SORRY, 9.8 BILLION. THOSE

2:25:04PROFITS ARE NOT REACHING THE

2:25:05CONSUMERS OR WORKERS WAGES ARE

2:25:07LOWER THAN EVER, CLEARLY

2:25:09SHOWING THAT WHEN YOU LOWER

2:25:10CORPORATE TAXES, IT ONLY

2:25:11BENEFITS THE PEOPLE AT TOP. WE

2:25:13URGE PORTLAND CITY COUNCIL TO

2:25:15UNANIMOUSLY SUPPORT THE FAIR

2:25:16SHARE TAX. THIS POLICY HAS

2:25:18EXISTED FOR OVER A DECADE, AND

2:25:20WE ARE FAR BEYOND THE TIME OF A

2:25:22NEEDED ADJUSTMENT. THAT SPEAKS

2:25:23TO HOW WEALTH DISPARITY HAS

2:25:24GROWN IN THAT TIME. IT'S TIME

2:25:26FOR THE CITY TO WORK FOR

2:25:28PORTLANDERS, NOT LOBBYISTS AND

2:25:30CORPORATIONS. THANK YOU FOR

2:25:31YOUR TIME, AND THANK YOU FOR

2:25:32ALLOWING THE PEOPLE TO USE OUR

2:25:34FULL TESTIMONY TIME TODAY.

2:25:38>> IRENA, SOLOMON, SHERRY

2:25:40JAMISON, JORDAN. LEWIS, KERRY

2:25:44COKE, JOE SQUIRES, LORENA MORA,

2:25:48AND FRANCESCA MARINI. AND YOU

2:25:51CAN GO AHEAD AT THE TABLE WHEN

2:25:53YOU'RE SEATED.

2:25:57>> GOOD MORNING COUNCILORS. MY

2:25:59NAME IS SHERRY JAMISON AND I'M

2:26:01THE CO CHAIR OF MUSIC, OREGON'S

2:26:03MUSIC ADVOCACY COUNCIL HERE IN

2:26:06PORTLAND. I'M HERE ON BEHALF OF

2:26:08THE HUNDREDS OF MUSICIANS AND

2:26:10MUSIC INDUSTRY WORKERS WHO LIVE

2:26:12AND WORK IN OUR CITY, AND WHO

2:26:14ARE CONSTITUENTS IN EVERY

2:26:16DISTRICT. I'M ALSO A FORMER

2:26:18MUSIC VENUE OPERATOR AT A VENUE

2:26:19BASED IN NORTHEAST PORTLAND, SO

2:26:22I UNDERSTAND FIRSTHAND THE

2:26:24CHALLENGES THAT SMALL MUSIC

2:26:26BUSINESSES FACE. I'M SPEAKING

2:26:30IN SUPPORT OF THE FAIR SHARE

2:26:32TAX BECAUSE MUSIC'S THE MUSIC

2:26:35ECONOMY HERE IN PORTLAND

2:26:36DEPENDS ON SMALL BUSINESSES.

2:26:38OUR MUSIC ECOSYSTEM INCLUDES

2:26:40INDEPENDENT VENUES, RECORDING

2:26:42STUDIOS, REHEARSAL SPACES,

2:26:44TICKETING COMPANIES, SOUND

2:26:45ENGINEERS, RECORDING RECORDS

2:26:47STORES, LABELS, MANAGERS,

2:26:49BOOKING AGENTS, TOURING BANDS

2:26:50AND MANY OTHER SMALL OPERATORS.

2:26:53THESE BUSINESSES OFTEN WORK

2:26:55WITH NARROW MARGINS WHILE

2:26:57FACING RISING RENTS, INSURANCE,

2:27:00LABOR EQUIPMENT AND OPERATING

2:27:02COSTS, AND THESE BUSINESSES

2:27:04HAVE ECONOMIC IMPACT THAT

2:27:05EXTENDS WELL BEYOND THE MUSIC

2:27:07INDUSTRY ITSELF. THEY BRING

2:27:09PEOPLE INTO OUR NEIGHBORHOODS

2:27:10WHERE THEY SPEND MONEY AT OTHER

2:27:13LOCAL BUSINESSES TO RAISING THE

2:27:15BUSINESS. LICENSE. TAX

2:27:17EXEMPTION WOULD PROVIDE

2:27:18MEANINGFUL RELIEF TO MANY OF

2:27:20THEM. I UNDERSTAND THE CITY

2:27:23ESTIMATES THE AVERAGE SAVINGS

2:27:25OF $900 A YEAR, AND FOR A SMALL

2:27:28VENUE OR A STUDIO THAT IS NOT

2:27:31INSIGNIFICANT, THAT COULD COVER

2:27:32A MONTH OF UTILITIES, PAY FOR

2:27:34EQUIPMENT REPAIR OR COVER

2:27:36SEVERAL SHIFTS OF A PART TIME

2:27:37WORKER. AND THE BENEFIT ISN'T

2:27:40JUST MONEY, IT IS ALSO MEANS

2:27:42LESS PAPERWORK AND COMPLIANCE

2:27:44TIME FOR OWNERS WHO ARE ALREADY

2:27:45WEARING MANY, MANY HATS ALL AT

2:27:47ONCE. THAT GIVES THEM MORE

2:27:49CAPACITY TO FOCUS ON RUNNING

2:27:51THEIR BUSINESS. SUPPORTING

2:27:53PORTLAND'S MUSIC ECONOMY ALSO

2:27:55MEANS INVESTING IN CITY

2:27:56INFRASTRUCTURE THAT MAKES THAT

2:27:57ECONOMY POSSIBLE. MUSICIANS,

2:27:59VENUE AND MUSIC WORKERS DEPEND

2:28:01ON SAFE AND ACCESSIBLE PUBLIC

2:28:03SPACES, RELIABLE TRANSPORTATION,

2:28:06PUBLIC SAFETY AND THE OTHER

2:28:08SERVICES THAT ALLOW PEOPLE TO

2:28:10LIVE, WORK, GATHER AND

2:28:12PARTICIPATE IN CULTURAL LIFE.

2:28:14OUR AUDIENCES DEPEND ON THESE

2:28:16SERVICES TO THE FAIR. SHARE TAX

2:28:18WOULD HELP MAINTAIN AND

2:28:20STRENGTHEN THAT FOUNDATION BY

2:28:21ASKING MORE FROM THE LARGEST

2:28:24CORPORATIONS, WHILE PROVIDING

2:28:25RELIEF TO SMALL BUSINESSES. THE

2:28:28RESULTING REVENUE CAN SUPPORT

2:28:29THE PUBLIC INVESTMENT THAT

2:28:30PORTLAND'S CREATIVE ECONOMY

2:28:32RELIES ON EVERY DAY. SO WHEN WE

2:28:34TALK ABOUT SUSTAINING MUSIC IN

2:28:36PORTLAND, WE SHOULD THINK

2:28:37BEYOND GRANTS AND BEYOND

2:28:39CULTURAL PROGRAMS. WE SHOULD

2:28:40ALSO SUPPORT THE SMALL

2:28:42BUSINESSES THAT MAKE THAT MUSIC

2:28:44POSSIBLE, AND THE PUBLIC

2:28:45SYSTEMS THAT ALLOW THEM TO

2:28:46THRIVE. FOR THESE REASONS AND

2:28:48MORE, MUSIC OREGON'S MUSIC

2:28:50ADVOCACY COUNCIL SUPPORTS THE

2:28:51FAIR SHARE TAX, AND I ENCOURAGE

2:28:53THE COUNCIL TO PASS IT. THANK

2:28:55YOU FOR YOUR TIME AND

2:28:56CONSIDERATION.

2:28:59>> GOOD MORNING. I'M IRINA

2:29:01SOLOMON AND I'VE LIVED IN

2:29:02DISTRICT TWO SINCE 2007. I'VE

2:29:05DONE SMALL BUSINESS TAXES SINCE

2:29:072008, AND I SUPPORT THE FAIR

2:29:09SHARE TAX. I LOVE TAXES,

2:29:12LITERALLY MY MY MANICURE, IF

2:29:14YOU CAN SEE SAYS 1040 ON THIS

2:29:16HAND AND 1120 ON THE OTHER HAND.

2:29:20SO I LOVE HELPING SMALL

2:29:21BUSINESS TAX OWNERS NAVIGATE

2:29:22THE POTENTIALLY COMPLEX MAZE OF

2:29:24TAX COMPLIANCE, WHICH IS A GOOD

2:29:26THING BECAUSE FUN FACT PORTLAND

2:29:28HAS ONE OF THE MOST COMPLEX TAX

2:29:31BUSINESS COMPLIANCE LANDSCAPES

2:29:33IN THE COUNTRY. EVEN THE

2:29:36SMALLEST BUSINESS HERE CAN OWE

2:29:37UP TO EIGHT DIFFERENT TAXES,

2:29:38WHICH JUMPS TO 14 FOR AN S CORP

2:29:41PAID TO UP TO 7 TO 9 DIFFERENT

2:29:44TAXING AUTHORITIES USING AT

2:29:46LEAST FOUR DIFFERENT

2:29:47DEFINITIONS OF TAXABLE INCOME.

2:29:50FOR A LARGE COMPANY WITH A FULL

2:29:51SERVICE ACCOUNTING FIRM, THAT'S

2:29:53AN ANNOYANCE. BUT FOR THE

2:29:55MICROBUSINESSES THAT I SERVE

2:29:56MANY WITH LOW INCOMES, IT'S AN

2:29:58UNFAIR BURDEN. AND MISTAKES ARE

2:30:01EXPENSIVE. IF I PAY MY BUSINESS

2:30:03LICENSE TAX FOUR MONTHS LATE,

2:30:05THE PENALTY IS 25%. FOR THE

2:30:08SAME LATE PAYMENT, THE IRS WILL

2:30:10CHARGE ME 2%. OKAY, SO WHO

2:30:13ACTUALLY PAYS THIS? BECAUSE I'M

2:30:15A NERD. I PULLED THE MOST

2:30:16RECENT

2:30:17>> YEARS. NUMBERS FROM MY OWN

2:30:18PRACTICE. MY CLIENTS AVERAGE

2:30:20$160,000 IN ANNUAL INCOME, BUT

2:30:22ABOUT A THIRD ARE UNDER 90,000.

2:30:25ABOUT HALF OF MY CLIENTS IN

2:30:27MULTNOMAH COUNTY HAD BUSINESS

2:30:29INCOME. AND OF THOSE PEOPLE, A

2:30:30LITTLE LESS THAN HALF HAD TO

2:30:33PAY. OF MY CLIENTS THAT OWED

2:30:36THIS TAX, HALF OF THEM WERE

2:30:38UNDER 120% OF THE MEDIAN FAMILY

2:30:41INCOME FOR THEIR FAMILY SIZE. A

2:30:43THIRD OF THEM WERE UNDER 80% OF

2:30:46THE MEDIAN FAMILY INCOME, AND 1

2:30:49IN 10 WAS UNDER 200% OF THE

2:30:51FEDERAL POVERTY LEVEL. THAT'S

2:30:54THAT MEANS THEY'RE LIVING ON

2:30:56$32,000 FOR ONE PERSON, LESS

2:30:58THAN 43,000 FOR TWO. THIS

2:31:01PROPOSAL AND ITS INCREASE OF

2:31:02THE EXEMPTION AMOUNT WILL MAKE

2:31:04A HUGE DIFFERENCE TO THE

2:31:05SMALLEST BUSINESSES TRYING TO

2:31:07SURVIVE, THRIVE, GROW AND

2:31:09SUPPORT FAMILIES. ONE CASE

2:31:10STUDY I'D LIKE TO SHARE WITH

2:31:12YOU IS MYSELF. I'M A SINGLE

2:31:15PARENT TO MY TWO KIDS WHO ARE

2:31:16HERE WITH ME TODAY. FOR THE

2:31:18YEAR CITED ABOVE, MY OWN INCOME

2:31:20WAS JUST ABOUT 100% OF THE

2:31:22MEDIAN FAMILY INCOME FOR MY

2:31:24HOUSEHOLD SIZE, AND MY BUSINESS

2:31:26LICENSE TAX IN THAT YEAR WAS

2:31:29ALMOST 1.5% OF THAT INCOME. BUT

2:31:32AT LEAST I DIDN'T HAVE TO WORRY

2:31:34ABOUT PAYING A TAX PRO TO HELP

2:31:36ME FIGURE IT OUT. RAISING THE

2:31:38EXEMPTION HELPS WITH THE ACTUAL

2:31:39TAX PAID, OF COURSE, BUT IT

2:31:40ALSO HELPS TO GREATLY SIMPLIFY

2:31:42THE COMPLIANCE BURDEN FOR THOSE

2:31:44WHO CAN LEAST AFFORD IT. I URGE

2:31:46YOU TO SUPPORT THE FAIR SHARE

2:31:47TAX. THANK YOU SO MUCH FOR YOUR

2:31:49TIME TODAY.

2:31:52>> THAT WAS SO GOOD. MY NAME IS

2:31:55CARRIE KOH, PRESIDENT OF THE

2:31:56CITY OF PORTLAND PROFESSIONAL

2:31:57WORKERS UNION. WE REPRESENT 800

2:32:00WORKERS ALL ACROSS THE CITY OF

2:32:01PORTLAND, AND I WILL KEEP IT

2:32:03VERY SIMPLE. YOU'VE HEARD

2:32:04INCREDIBLE TESTIMONY TODAY.

2:32:06EVERYBODY ON THIS COUNCIL TALKS

2:32:07ABOUT THEMSELVES AS A

2:32:09PROGRESSIVE REPRESENTATIVE OF

2:32:10THE CITY OF PORTLAND AND OF THE

2:32:12PEOPLE OF PORTLAND. AND NOW

2:32:14THIS IS THE FAIR SHARE TAX. YOU

2:32:17HAVE AN OPPORTUNITY TO BACK UP

2:32:19THOSE WORDS WITH MEANINGFUL

2:32:20ACTION. THE TOP SHAREHOLDERS

2:32:22AND THE CEOS OF THESE

2:32:24CORPORATIONS ARE NOT YOUR

2:32:25CONSTITUENTS. THE PORTLANDERS

2:32:26WHO WORK FOR THEM ARE. BUT

2:32:29BEYOND THAT, YOU HAVE A

2:32:30RESPONSIBILITY TO FIGURE OUT

2:32:31STABLE REVENUE FOR THIS CITY SO

2:32:33THAT THE CITY OF PORTLAND CAN

2:32:35BE A MODEL EMPLOYER, TOO. AND

2:32:37THIS ISN'T A SILVER BULLET, BUT

2:32:38IT'S A GOOD START. MY UNION,

2:32:40THE CITY OF PORTLAND

2:32:41PROFESSIONAL WORKERS UNION, IS

2:32:42SUPPORTING THE FAIR SHARE TAX

2:32:43BECAUSE IT MAKES SENSE THAT

2:32:46CORPORATIONS THAT IF

2:32:47CORPORATIONS ARE GOING TO

2:32:48SIPHON MONEY OUT OF THEIR

2:32:49WORKERS POCKETS TO PUT THAT

2:32:51MONEY INTO THE TOP PERSON,

2:32:54OTHERWISE THE WORKERS WHO

2:32:55OTHERWISE WOULD GO OUT INTO OUR

2:32:57COMMUNITIES AND SPEND THAT

2:32:58MONEY, THAT THE THAT WE NEED TO

2:32:59FIGURE OUT A WAY FOR THEM TO

2:33:01PAY THEIR FAIR SHARE IN A

2:33:03DIFFERENT WAY. SO WHETHER

2:33:04YOU'RE A WORKER AT A MEGA

2:33:06CORPORATION OR A WORKER HERE AT

2:33:07THE CITY OF PORTLAND, YOU

2:33:08DESERVE FAIR COMPENSATION,

2:33:10RESPECT ON THE JOB AND A STABLE

2:33:12FUTURE. THAT'S WHAT WE'RE

2:33:13FIGHTING FOR. THAT'S WHAT WE'RE

2:33:14FIGHTING FOR IN OUR CONTRACT

2:33:15RIGHT NOW. THAT IS WHY WE

2:33:17LAUNCHED OUR STRIKE

2:33:18AUTHORIZATION VOTE TODAY. AND

2:33:19THAT'S WHY I AM SPEAKING HERE

2:33:21TODAY TO ENCOURAGE YOU TO PASS

2:33:23THE FAIR SHARE TAX. THANK YOU.

2:33:28>> HEY GOOD MORNING EVERYBODY.

2:33:29JOE SQUIRES. I'M A DISTRICT TWO.

2:33:32THE FIGHT IN THE FIGHT IN TWO.

2:33:34I'M BORN AND RAISED HERE IN

2:33:35PORTLAND. OTHER THAN A STINT IN

2:33:37THE NUCLEAR NAVY WHEN I WAS

2:33:38YOUNG AND I'M A BUSINESS OWNER

2:33:40HAVE BEEN FOR 20 YEARS. AND I

2:33:42CAME HERE TO TALK ABOUT THAT

2:33:44FROM AFAR. I MEAN, YOU KNOW, AS

2:33:46A BUSINESS OWNER, OUR OUR OUR

2:33:48BELOVED CITY HAS A TAX PROBLEM,

2:33:49HAS A REVENUE PROBLEM. AS

2:33:51MENTIONED BEFORE, 75% OF OUR

2:33:53REVENUE COMES FROM PROPERTY TAX

2:33:55AND FROM BUSINESS TAX. JOHN

2:33:57TITUS, THE MULTNOMAH COUNTY

2:34:00APPRAISER, CAME IN AND SPOKE

2:34:01LAST OCTOBER AND WARNED OF

2:34:03DOUBLE DIGIT PROPERTY TAX

2:34:06COMPRESSION SINCE COVID. THAT'S

2:34:085 OR 6 YEARS IN A ROW OF DOUBLE

2:34:11DIGIT REVENUE DECREASES. THAT

2:34:13COMPRISES ABOUT 45% OF THE

2:34:15OVERALL $800 MILLION BUDGET. IF

2:34:18SOMEBODY TOLD ME I WAS HAVING

2:34:20THAT KIND OF PROBLEM, I WOULD

2:34:22DEFINITELY PUT MY THUMB ON THE

2:34:22PULSE OF THAT. AND THEN YOU'RE

2:34:25TALKING ABOUT THE SAME THING

2:34:27ABOUT 35, 25, 30% OF YOUR

2:34:29REVENUE COMES FROM THE THE

2:34:31BUSINESS TAX. WELL, I'M PRETTY

2:34:33SURE ALL OF US HAVE WALKED BY A

2:34:35VACANCY SIGN ON OUR WAY TO, TO

2:34:36THE MEETING TODAY. STOREFRONTS

2:34:39AND EMPTY BUILDINGS DO NOT BODE

2:34:42WELL FOR BUSINESS TAX, AND THEY

2:34:43DON'T BODE WELL FOR COMPRESSION

2:34:45IN PROPERTY TAX I.E. WE ARE

2:34:47HEMORRHAGING BUDGET, TOP LINE

2:34:50REVENUE. STEVE YOU ASLEEP? ARE

2:34:52YOU DOING GOOD? OKAY. SORRY, I

2:34:54JUST SAW YOU DRIFT OFF THERE.

2:34:56DON'T USE YOUR LEFT HAND TO

2:34:57HOLD IT. SO I MEAN, THERE'S A

2:35:00PROBLEM AND THAT'S NOT BEING

2:35:01ADDRESSED. WE HAVE A REVENUE

2:35:03PROBLEM, BUT I DON'T THINK

2:35:04TAXING BUSINESSES MAKING

2:35:05PORTLAND ADDITIONALLY NOT

2:35:07BUSINESS FRIENDLY IS THE

2:35:08SOLUTION. I LOOKED UP REALLY

2:35:14QUICK WHAT BUSINESSES WOULD BE

2:35:15AFFECTED BY THIS? AND IT'S JUST

2:35:17A PRETTY CURSORY SEARCH. I MEAN,

2:35:18PGE HAS BEEN MENTIONED.

2:35:19NORTHWEST NATURALS BEEN

2:35:21MENTIONED. AT&T, COMCAST SORRY,

2:35:24I DON'T HAVE A PHD IN ECONOMICS.

2:35:26I'M NOT SURE WHICH ONE OF THOSE

2:35:27YOU KNOW, I MEAN THAT'S JUST,

2:35:29YOU KNOW, LISTED BUSINESSES,

2:35:31GAS STATIONS, TARGET, HOME

2:35:33DEPOT, KROGER'S GROCERY WISE,

2:35:36IT'S KROGER'S SUBWAY OR SAFEWAY,

2:35:39ALBERTSONS, HOME DEPOT, TARGET,

2:35:41AMAZON, WHICH IS MENTIONED WHAT

2:35:42I'M SURE WAS ON THE LIST

2:35:45BANKING IT'S WELLS FARGO, IT'S

2:35:47COMCAST. IF THEY PASS 100% OF

2:35:49THIS TAX ONTO THE CONSUMERS,

2:35:50WHICH MOST BUSINESSES DO, THAT

2:35:52WOULD EQUAL ABOUT A $500

2:35:54SURCHARGE FOR A FAMILY OF FOUR

2:35:56IN PORTLAND, WHICH KIND OF YEAH,

2:35:59I CAN SHARE MY MATH WITH YOU.

2:36:00SORRY, I DON'T HAVE A PHD

2:36:02EITHER. COUNCIL. GREEN TALKED

2:36:03ABOUT MORE AUSTERITY. AND I,

2:36:05YOU KNOW, AS A BUSINESS OWNER,

2:36:07IF THERE'S A REVENUE PROBLEM,

2:36:08YOU CAN EITHER RAISE PRICES,

2:36:09YOU CAN CUT COSTS AND RAISING

2:36:12PRICES, I.E. MORE TAXES. ISN'T

2:36:14PUTTING PORTLAND OUT THERE AS

2:36:15VERY BUSINESS FRIENDLY. SO I

2:36:18JUST THAT'S IT.

2:36:20>> THANK YOU. GO AHEAD. JORDAN.

2:36:22>> HELLO, CITY COUNCIL. MY NAME

2:36:23IS JORDAN LEWIS. I'M A RESIDENT

2:36:25AND A VOLUNTEER LOBBYIST FOR

2:36:27THE PORTLAND DEMOCRATIC

2:36:28SOCIALISTS OF AMERICA. FIRST, I

2:36:30WANT TO THANK BOLD COFFEE FOR

2:36:31SPEAKING IN SUPPORT OF THIS

2:36:33POLICY AND FOR OPENING A

2:36:34BUSINESS IN THE GOOSE HOLLOW

2:36:35AREA. I MOVED THERE IN 2021 AND

2:36:37LIVED AMONG SEVERAL VACANT

2:36:38STOREFRONTS FOR FIVE YEARS. IT

2:36:40TAKES A LOT OF COURAGE TO MOVE

2:36:42INTO A SPACE, START A BUSINESS,

2:36:43AND THAT IS HOW OUR SOCIETY

2:36:45RUNS. IT GETS US OUTSIDE OF OUR

2:36:47HOUSES, GETS US TALKING TO

2:36:48OTHER HUMAN BEINGS, AND IT

2:36:50KEEPS MONEY INSIDE OUR

2:36:51COMMUNITIES RATHER THAN

2:36:51CROSSING STATE LINES, WHICH IS

2:36:53THE CASE WITH LARGE

2:36:54CORPORATIONS. I WANT TO STRESS

2:36:55THAT IN THE COMPETITION BETWEEN

2:36:57LARGE, PUBLICLY TRADED

2:36:59CORPORATIONS AND LOCAL BUSINESS,

2:37:00IT'S NOT A LEVEL PLAYING FIELD.

2:37:02LARGE CORPORATIONS OPERATE ON

2:37:03ECONOMIES OF SCALE AND HAVE

2:37:05ACCESS TO LEGAL AND LEGISLATIVE

2:37:06COUNSEL, WHICH LOCAL BUSINESSES

2:37:07SIMPLY DO NOT. THE PROPOSED

2:37:09POLICY SIMPLY LEVELS THE

2:37:10PLAYING FIELD JUST A LITTLE BIT,

2:37:11SO THAT LOCAL BUSINESSES, WHICH

2:37:13WE PREFER, HAVE A FAIRER CHANCE

2:37:16AT COMPETING ON THE QUOTE

2:37:17UNQUOTE, FREE MARKET. OUR WORLD

2:37:18AND ECONOMY IS CHANGING

2:37:20FUNDAMENTALLY. THE PANDEMIC

2:37:21ACCELERATED THIS, BUT WE'RE

2:37:22SEEING FEWER AND FEWER BRICK

2:37:23AND MORTAR RETAIL OPERATIONS.

2:37:25AND WE WERE WELL BEFORE THE

2:37:27PANDEMIC AS PEOPLE MADE MORE

2:37:28PURCHASES THROUGH APPS AND ON

2:37:30WEBSITES. IF YOU KNOW ME, I

2:37:32JOKE OFTEN THAT THE AMERICAN

2:37:33ECONOMY DOESN'T REALLY MAKE

2:37:34GOODS AND SERVICES ANYMORE. WE

2:37:35JUST SHUFFLE MONEY BETWEEN

2:37:37ACCOUNTS AND FIDDLE WITH TECH

2:37:39STUFF THAT NO ONE REALLY

2:37:41UNDERSTANDS. A CORNERSTONE OF

2:37:42OUR ECONOMY IS ARTIFICIAL

2:37:44INTELLIGENCE, WHICH IS LARGELY

2:37:45FAKE AND NO ONE WANTS. I

2:37:46ACTUALLY WORK IN MANUFACTURING,

2:37:48AND I JOKE THAT OUR PRODUCT IS,

2:37:50QUOTE, TOO REAL FOR AI, BUT I

2:37:52DIGRESS. THE AMERICAN ECONOMY

2:37:53HAS BECOME MORE K-SHAPED, WHICH

2:37:55MEANS THAT IT CONSISTS OF HIGH

2:37:57EARNERS WHO EARN AND SPEND ALL

2:37:58THE MONEY, AND LOW EARNERS WHO

2:38:00MAKE OR SPEND VERY LITTLE WITH

2:38:02THIS COMING AGE OF NEOFEUDALISM.

2:38:03TO STAND STILL IS NOT NEUTRAL.

2:38:05WE HAVE TO RESPOND TO A

2:38:06CHANGING ENVIRONMENT JUST TO

2:38:07SURVIVE. AND I WANT TO THANK

2:38:09COUNCILOR NOVICK FOR

2:38:10RECOGNIZING THIS AND PASSING

2:38:11THE ORIGINAL CEO PAY SURTAX IN

2:38:132016. IT WAS THE RIGHT MOVE.

2:38:15UNFORTUNATELY, THAT WAS ON THE

2:38:16EVE OF THE FIRST TRUMP

2:38:18ADMINISTRATION, WHICH WAS A

2:38:19HISTORIC STRIPPING OF AMERICAN

2:38:20STATE CAPACITY FOR PARTS. WE

2:38:22SUFFERED THAT HUGE WOUND TO OUR

2:38:24COUNTRY. AND THEN WE HAD A

2:38:26BIDEN ADMINISTRATION THAT MADE

2:38:27SOME MODEST REFORMS AND EFFORTS

2:38:29IN THE OTHER DIRECTION. THEN WE

2:38:31HAD A SECOND TRUMP

2:38:32ADMINISTRATION, WHICH WENT EVEN

2:38:33FURTHER. THE TIME HAS COME TO

2:38:34ADAPT TO THIS NEW ECONOMY, NOT

2:38:36TO IGNORE IT AND KEEP BUSINESS

2:38:37AS USUAL. VOTE YES ON THE

2:38:39EXPANDED CEO PAY SURTAX.

2:38:41FINALLY, I APPRECIATE THE

2:38:42TESTIMONY WHICH TALKED ABOUT

2:38:43LOUISIANA AND ASKED WHETHER

2:38:44GENEROUS TAX RATES FOR

2:38:45CORPORATIONS RESULTED IN MORE

2:38:47VIBRANT ECONOMIES. AS A BORN

2:38:48AND RAISED WEST VIRGINIAN, I

2:38:50CAN EXPRESS THAT SAME SENTIMENT.

2:38:51WEST VIRGINIA HAS BEEN

2:38:52THOROUGHLY DISINVESTED IN AND

2:38:53SUFFERING MY ENTIRE LIFE. THIS

2:38:55HAS PERSISTED THROUGH YEARS OF

2:38:56TAX CUTS FOR THE WEALTHY.

2:38:58STOREFRONTS ARE EMPTY THERE TOO.

2:38:59SERVICES ARE BEING CUT THERE,

2:39:01TOO. WHAT DOES WEST VIRGINIA

2:39:02HAVE TO SHOW FOR ALL THOSE TAX

2:39:03CUTS? AND LASTLY, WHEN SOMEONE

2:39:06COMES TO TESTIFY ON A TURNKEY

2:39:07SOLUTION FOR LOWER TAXES FOR

2:39:08SMALL BUSINESSES WHILE RAISING

2:39:10REVENUE FROM PUBLICLY TRADED

2:39:11COMPANIES, AND THEY SAY

2:39:12CONGRESS SHOULD BE DOING IT

2:39:14INSTEAD. THEY'RE SPEAKING IN

2:39:15CODE. CONGRESS WILL NEVER DO

2:39:16THIS. CONGRESS WON'T DO

2:39:18ANYTHING. THAT'S THE POINT.

2:39:19IT'S A RHETORICAL STRATEGY TO

2:39:20SEEM ALIGNED WHILE GETTING IN

2:39:21THE WAY OF OUR SUPPOSEDLY

2:39:22SHARED GOALS. DON'T FALL FOR IT.

2:39:24THANKS.

2:39:27>> LORENA. YOU CAN GO AHEAD ON

2:39:29LINE.

2:39:30>> GOOD MORNING, MEMBERS OF THE

2:39:32COMMITTEE. MY NAME IS LORENA

2:39:33MORA, AND I'M THE PROGRAMS AND

2:39:35PARTNERSHIP MANAGER AT DIVISION

2:39:36MIDWAY ALLIANCE. WE'RE A

2:39:38NONPROFIT ORGANIZATION LOCATED

2:39:40IN DISTRICT ONE, AND I'M HERE

2:39:42TODAY TO SHARE MY SUPPORT FOR

2:39:43THE FAIR SHARE TAX. THROUGH MY

2:39:45WORK AT DIVISION MIDWAY

2:39:46ALLIANCE, I WORK CLOSELY WITH

2:39:47SMALL BUSINESSES IN EAST

2:39:49PORTLAND AND ALONG THE DIVISION

2:39:51CORRIDOR. I'VE SEEN HOW

2:39:52IMPORTANT THESE BUSINESSES ARE

2:39:54TO OUR COMMUNITIES WHO LIVE

2:39:55THERE. THEY ARE NOT JUST PLACES

2:39:57WHERE PEOPLE SHOP OR WORK, BUT

2:39:58THEY ARE PLACES WHERE PEOPLE

2:39:59BUILD RELATIONSHIP ACCESS,

2:40:02CULTURALLY SPECIFIC SERVICES

2:40:04AND GOODS AND FEEL MORE

2:40:05CONNECTED TO THEIR

2:40:06NEIGHBORHOODS. FOR MANY SMALL

2:40:08BUSINESS OWNERS, ESPECIALLY

2:40:09THOSE WHO ARE JUST STARTING OR

2:40:11OPERATING ON A SMALL, SMALLER

2:40:13MARGINS, EVERY EXPENSE MATTERS.

2:40:15RISING COSTS, RENT, STAFFING

2:40:17AND OTHER BUSINESS EXPENSES CAN

2:40:19MAKE IT DIFFICULT TO KEEP A

2:40:21BUSINESS OPEN AND CONTINUE

2:40:23INVESTING IN IT. EXEMPTING

2:40:2518,000 SMALL BUSINESSES FROM

2:40:26THE BUSINESS LICENSE TAX WOULD

2:40:28GIVE THESE SMALL BUSINESSES

2:40:29MORE ROOM TO INVEST IN THEIR

2:40:30BUSINESS, KEEP THEIR EMPLOYEES,

2:40:33CREATE JOBS AND CONTINUE

2:40:34SERVING THEIR COMMUNITY. WE SEE

2:40:37THIS CONNECTION THROUGH OUR

2:40:38WORKFORCE NAVIGATOR PROGRAM AS

2:40:40WELL. AT DMA, WE HELP COMMUNITY

2:40:42MEMBERS CONNECT TO EMPLOYMENT

2:40:44OPPORTUNITIES, AND MANY OF THE

2:40:45LOCAL BUSINESSES WE WORK WITH

2:40:47ARE AN IMPORTANT PART OF THAT

2:40:49WORKFORCE CREATION ECOSYSTEM.

2:40:51WHEN SMALL BUSINESSES ARE ABLE

2:40:53TO STAY OPEN AND HIRE, THEY

2:40:55CREATE MORE OPPORTUNITIES FOR

2:40:56PEOPLE IN OUR COMMUNITIES TO

2:40:57FIND WORK AND BUILD ECONOMIC

2:41:00STABILITY. LOCAL SMALL

2:41:01BUSINESSES REINVEST INTO THE

2:41:03LOCAL COMMUNITY IN A WAY MEGA

2:41:05CORPORATIONS SIMPLY DO, NOT.

2:41:07ASKING THE LARGEST CORPORATIONS

2:41:08WITH CEO TO WORKER PAY GAPS TO

2:41:10CONTRIBUTE MORE. MORE HELPS

2:41:13GENERATE REVENUE FOR THE CITY

2:41:14SERVICES THAT PORTLANDERS

2:41:15DEPEND ON, SUCH AS PARKS,

2:41:17PUBLIC SAFETY AND OTHER

2:41:19COMMUNITY PROGRAMS ARE

2:41:20IMPORTANT. THIS IS ABOUT

2:41:22CREATING A FAIR SYSTEM AND

2:41:24PROVIDING RELIEF WHERE IT CAN

2:41:25MAKE A REAL DIFFERENCE IN THE

2:41:27COMMUNITY. FOR THESE REASONS, I

2:41:29STRONGLY SUPPORT THE FAIR SHARE

2:41:30TAX AND ENCOURAGE THE COMMITTEE

2:41:32TO SUPPORT THIS. THANK YOU.

2:41:37>> FRANCESCA IS ONLINE. YOU CAN

2:41:38GO AHEAD.

2:41:42>> HI, MY NAME IS FRANCESCA AND

2:41:44I LIVE AND WORK IN DISTRICT TWO.

2:41:45I'VE BEEN WORKING FULL TIME AS

2:41:47AN INDEPENDENT ART BUSINESS IN

2:41:48PORTLAND FOR ABOUT A DECADE AND

2:41:50A HALF. I WANT TO SHARE A QUICK

2:41:52STORY. 16 YEARS AGO, I WORKED

2:41:53FOR A BELOVED LOCAL CORPORATION,

2:41:55THEN VALUED AT 80 TO $100

2:41:57MILLION. THIS COMPANY IS STILL

2:41:59SO BELOVED BY MOST PORTLANDERS

2:42:00THAT I'M NOT GOING TO MENTION

2:42:02IT BY NAME. I WORK DIRECTLY IN

2:42:03THE C-SUITE, ASSISTING TOP

2:42:04EXECUTIVES WITH DAY TO DAY

2:42:05TASKS AND CRAFTING BASIC

2:42:07MARKETING. ONE DAY, MY TASK OF

2:42:08THE DAY WAS TO HELP THE FIVE

2:42:10TOP EXECUTIVES RECEIVE LUMP SUM

2:42:12PAYMENTS OF BETWEEN $14.4

2:42:22MILLION AND $28.8 MILLION. AT

2:42:23THIS TIME, I WAS MAKING $16 AN

2:42:25HOUR, WHICH WAS A STANDARD WAGE

2:42:27THERE. ALTHOUGH THIS WAS A

2:42:28MANUFACTURING FACILITY, THE

2:42:29PRODUCTION FLOOR WAS NOT

2:42:30UNIONIZED. THE CEO WOULD OFTEN

2:42:31SAY THAT IF HIS WORKERS EVER

2:42:32WANTED TO UNIONIZE, IT WOULD

2:42:34BREAK HIS HEART. MY BOSS WOULD

2:42:35ALSO OFTEN SAY THAT HE THOUGHT

2:42:37THAT UNIONS FOR PUBLIC

2:42:38EMPLOYEES, SUCH AS TEACHERS

2:42:39UNIONS, WERE A TOTAL SCAM. IN

2:42:40FACT, THE THING THAT STICKS

2:42:41WITH ME THE MOST FROM THIS

2:42:43PERIOD OF EMPLOYMENT WAS THE

2:42:44FEELING OF WHIPLASH I WOULD GET

2:42:46FROM THE MANY SMALL LECTURES I

2:42:47WOULD GET IN THE OFFICE,

2:42:48LECTURES THAT WOULD PAIR THE

2:42:50MYTH OF THE GOOD, HARD WORKING

2:42:51PERSON WITH SMALL, ANGRY

2:42:52TIRADES AGAINST REGULATIONS,

2:42:53TAXES, AND ORDINARY LABOR

2:42:54PROTECTIONS. HALF OF MY JOB WAS

2:42:55MAKING SURE MY BOSSES NEVER HAD

2:42:57TO BREAK A SWEAT PRINTING A

2:42:58PIECE OF PAPER, AND THE OTHER

2:43:00HALF WAS MANAGING THE PUBLIC

2:43:01PERSONAS OF THESE MEN. SO YOU

2:43:03WOULD NEVER KNOW THAT THEIR

2:43:04LIFE WAS ANY DIFFERENT THAN

2:43:05YOURS. OUTSIDE OF MASSIVE PAY

2:43:06PACKAGES, TOP CEOS HAVE TEAMS

2:43:08OF SKILLED AND EDUCATED PEOPLE

2:43:09RESOLVING ALL THE REGULAR LIFE

2:43:11ISSUES WHILE WORKING TO HIDE

2:43:12THEIR PERSONALITIES FROM EVER

2:43:14BEING TRULY KNOWN BY YOU. YOU

2:43:15CANNOT DEPEND ON THE GENEROSITY

2:43:17OF THESE TOP 1% PEOPLE TO

2:43:19PROVIDE BASIC SERVICES FOR

2:43:21PEOPLE IN OUR CITY. HERE'S THE

2:43:23THING IF PEOPLE COULD STILL

2:43:24AFFORD FOOD, FOOD AND HOUSING

2:43:26HERE IN THE CITY, THIS WOULD

2:43:27NOT BE SUCH A BIG DEAL. IN 2010,

2:43:29MAKING $16 AN HOUR, I WOULD

2:43:31STOP AT NEW SEASONS ON MY WAY

2:43:33HOME FROM WORK AND BUY ALL THE

2:43:34GROCERIES I WANTED WITHOUT

2:43:35LOOKING AT THE PRICES OR

2:43:37WORRYING ABOUT MORE THAN

2:43:38SPENDING SPENDING MORE THAN I

2:43:39HAD IN THE BANK. IN 2010, YOU

2:43:41COULD STILL BUY A DECENT HOUSE

2:43:42WITH A SALARY IN THE LOW 30,000.

2:43:462026 IS DIFFERENT. IN THE PAST

2:43:47FIVE YEARS, I'VE HAD TO

2:43:48COMPLETELY CHANGE THE NATURE OF

2:43:50MY BUSINESS OPERATIONS TO STAY

2:43:51INDEPENDENTLY EMPLOYED. I HAVE

2:43:52WATCHED LARGE CORPORATIONS

2:43:54EXPAND AND GROW RICHER AND

2:43:56THRIVE. I WATCHED JEFF BEZOS

2:43:58WEAR A COWBOY HAT AND A ROCKET

2:44:00INTO SPACE, WHILE HIS AMAZON

2:44:02DELIVERY VANS DRIVE AROUND TOWN,

2:44:04TEARING UP THE STREETS WITH OUT

2:44:06OF STATE REGISTRATIONS. I SAY

2:44:07GOODBYE TO FELLOW ARTISTS WHO

2:44:09MOVE AWAY TO FIND CHEAPER

2:44:10WORKSPACES DESPITE GENEROUS

2:44:13EXECUTIVE PAY. THE COMPANY THAT

2:44:14I USED TO WORK FOR WOULD NOT BE

2:44:16TOUCHED BY THIS NEW TAX TODAY,

2:44:17BUT THOUSANDS OF PORTLANDERS

2:44:18LIVES WOULD BE IMPROVED. WOULD

2:44:20YOU RATHER SEE OUR CITY FILLED

2:44:21WITH THRIVING INDEPENDENT

2:44:23STOREFRONTS OR THOUSANDS MORE

2:44:24AMAZON DELIVERY VANS? THIS FAIR

2:44:26SHARE TAX HAS MY

2:44:28STRAIGHTFORWARD AND

2:44:28WHOLEHEARTED SUPPORT. THE

2:44:30WEALTH GAP IS GROWING. LET'S

2:44:31NOT MISS THE CHANCE TO SUPPORT

2:44:32A HEALTHY COMMUNITY AND FIGHT

2:44:35INEQUALITY TOGETHER. THANKS FOR

2:44:36YOUR TIME.

2:44:39>> DAVID BLUE. TOBIAS FORSBERG.

2:44:43JIM RICE. MARGARET. THOMAS.

2:44:46KAYLEE. ROLL. RYAN. SOTOMAYOR.

2:44:50EDITH. GILLIS. VICKI PAYNE.

2:44:55>> JUST TO BE CLEAR, THOSE ARE

2:44:56THE EIGHT FOLKS WHO ARE LEFT ON

2:44:58THE TESTIMONY THAT ARE SIGNED

2:45:00UP IN PERSON. SO WILL BE WILL

2:45:01BE MAKING SURE WE GET THROUGH

2:45:03AT LEAST THOSE. AND THEN

2:45:04FIGURING OUT THE REST BASED ON

2:45:05HOW MUCH TIME IS LEFT. GO AHEAD.

2:45:07>> GOOD AFTERNOON, COUNCIL

2:45:08MEMBERS. MY NAME IS KAYLEE. I'M

2:45:10A TENANT IN DISTRICT FOUR, A

2:45:12REGISTERED NURSE THAT WORKS IN

2:45:14DISTRICT THREE, A MEMBER OF

2:45:16PORTLAND'S A AND A VERY STRONG

2:45:18SUPPORTER OF TAXING THE RICH.

2:45:20PORTLAND'S WORKING PEOPLE ARE

2:45:22CONSTANTLY BEING ASKED TO

2:45:23TIGHTEN OUR BELTS, WHILE THE

2:45:25WEALTHIEST CORPORATIONS AND

2:45:26EXECUTIVES IN AMERICA ARE DOING

2:45:27THE EXACT OPPOSITE. WORKERS ARE

2:45:30STRUGGLING TO PAY FOR RENT,

2:45:33FOOD, UTILITIES, CHILD CARE,

2:45:35HEALTH CARE AND PATIENTS ARE

2:45:36GETTING SICKER AND SICKER WHILE

2:45:39AVOIDING THE CARE THAT THEY

2:45:40NEED BECAUSE THEY CANNOT AFFORD

2:45:42IT. MEANWHILE, CORPORATE

2:45:45EXECUTIVES ARE RAKING IN

2:45:46HUNDREDS OF MILLIONS OF DOLLARS

2:45:47ON THE BACKS OF WORKING PEOPLE

2:45:49THAT CREATE ALL THAT WEALTH FOR

2:45:51THEM. THIS INEQUALITY IS NOT AN

2:45:54ACCIDENT. IT'S THE RESULT OF

2:45:55DECADES OF OPERATING UNDER A

2:45:57RIGGED SYSTEM THAT HAS ALLOWED

2:45:59WEALTH TO FLOW UPWARD, WHILE

2:46:01WORKERS ARE TOLD THAT THERE

2:46:03SIMPLY ISN'T ENOUGH MONEY FOR

2:46:04THE THINGS THAT OUR COMMUNITIES

2:46:06NEED, LIKE FULLY FUNDED PARKS

2:46:08AND SCHOOLS, HOUSING.

2:46:10TRANSPORTATION. PORTLAND STREET

2:46:12RESPONSE AND SERVICES THAT WE

2:46:13ALL BENEFIT FROM. IT'S WAY PAST

2:46:16TIME TO REBALANCE THE SCALES

2:46:18AND HELP SUPPORT THE WORKING

2:46:19CLASS PEOPLE AND SMALL

2:46:21BUSINESSES OF PORTLAND BY

2:46:22ENACTING THIS FAIR SHARE TAX. I

2:46:24ALSO WANT TO ADDRESS THE IDEA

2:46:25THAT CORPORATIONS WILL LEAVE

2:46:27PORTLAND IF YOU TAX THEM FAIRLY.

2:46:29BUSINESSES DON'T CHOOSE WHERE

2:46:31TO OPERATE BASED ON TAXES ALONE.

2:46:33THEY NEED WORKERS. THEY NEED

2:46:35CUSTOMERS. THEY NEED

2:46:36INFRASTRUCTURE SUPPLIERS AND

2:46:38THRIVING COMMUNITIES. WE SHOULD

2:46:40NOT ALLOW THE WEALTHIEST PEOPLE

2:46:42AND LARGEST CORPORATIONS TO

2:46:43HOLD OUR COMMUNITY HOSTAGE BY

2:46:46SAYING, GIVE US EVERYTHING WE

2:46:47WANT OR WE'LL LEAVE. THAT'S

2:46:50EXACTLY WHAT WE WITNESSED WITH

2:46:51THE MODA CENTER FIASCO THAT

2:46:52HANDED HUNDREDS OF MILLIONS OF

2:46:54OUR TAX DOLLARS TO BILLIONAIRE

2:46:55TOM DUNDON. WHILE OUR CITY

2:46:57FACES BUDGET SHORTFALLS YEAR

2:46:59AFTER YEAR. A NURSE CAN'T

2:47:02THREATEN TO MOVE AN ENTIRE

2:47:04HOSPITAL. A TRIMET DRIVER CAN'T

2:47:05TAKE THE CITY'S TRANSIT SYSTEM

2:47:08WITH THEM IF THEY GO SOMEWHERE

2:47:09ELSE. WORKING PEOPLE ARE ROOTED

2:47:11IN THEIR COMMUNITIES, AND WE

2:47:13DESERVE A CITY GOVERNMENT THAT

2:47:14IS EQUALLY ROOTED RIGHT HERE

2:47:16WITH US. THIS IS YOUR

2:47:19OPPORTUNITY TO SHOW THE PEOPLE

2:47:20OF PORTLAND THAT YOU ARE

2:47:22COMMITTED TO OUR CITY, THAT YOU

2:47:23ARE READY TO ADDRESS THE

2:47:25AUSTERITY CRISIS CREATED BY

2:47:27BILLIONAIRES HEAD ON, AND THAT

2:47:29YOU CARE DEEPLY ABOUT

2:47:31GENERATING REVENUE TO FUND

2:47:33DIGNIFIED LIVES FOR ALL OF US.

2:47:35PLEASE SUPPORT THIS FAIR SHARE

2:47:37TAX. THANK YOU.

2:47:41>> DO I GO NEXT?

2:47:42>> I THINK SO.

2:47:44>> GOOD MORNING. MY NAME IS

2:47:46MARGARET THOMAS. I LIVE IN

2:47:49DISTRICT FOUR. I'VE LIVED HERE

2:47:51SINCE 1978. I'M ALSO A PROUD

2:47:54MEMBER OF DSA. OBVIOUSLY I AM

2:47:58HERE TO IN SUPPORT OF THE FAIR

2:48:00SHARE TAX. IT WILL EXEMPT

2:48:0418,000 SMALL BUSINESSES FROM

2:48:05PAYING A BUSINESS LICENSE TAX.

2:48:08THIS CAN MAKE A BIG DIFFERENCE

2:48:09TO A SMALL AND NEW BUSINESS, AS

2:48:12WELL AS MAINTAINING SERVICES

2:48:14THAT PORTLANDERS RELY ON.

2:48:16CURRENTLY, WE'RE LOOKING AT A

2:48:17BUDGET SHORTFALL WHICH, IF IT

2:48:18ISN'T ADDRESSED, WILL CAUSE

2:48:20SERVICE CUTBACKS AFFECTING

2:48:22PARKS AND PUBLIC SAFETY. HERE'S

2:48:24A CHANCE TO ADD AT LEAST A

2:48:26LITTLE NEW REVENUE AND TO

2:48:28MAINTAIN WHAT GIVES PORTLAND

2:48:29ITS VITAL NEIGHBORHOODS AND

2:48:31UNIQUE CHARACTER. SHOUT OUT

2:48:33HERE TO MOTHER FOUCAULT'S

2:48:34BOOKSTORE, WHICH IS AN

2:48:36IMPORTANT PART OF THE LOCAL ART

2:48:38SCENE WHILE PRESERVING CRUCIAL

2:48:40PUBLIC SAFETY JOBS WITH THIS.

2:48:43IF WE PASS THIS ALSO, THIS BILL

2:48:46WILL ALLOW US TO KEEP OUR

2:48:48COMMITMENT TO ASSISTING LOW

2:48:50INCOME PORTLANDERS TO KEEP

2:48:51THEIR HOUSING. THE PROPOSED

2:48:54SURTAX RAISES APPROXIMATELY $88

2:48:57MILLION IN NEW REVENUES, WHILE

2:48:59CUTTING TAXES FOR SMALL

2:49:01BUSINESSES AND STARTUPS. THIS

2:49:02IS WHY I URGE YOU TO PASS THE

2:49:05FAIR SHARE TAX. THANK YOU.

2:49:11>> RYAN IS ONLINE. YOU CAN GO

2:49:12AHEAD.

2:49:20>> HI. ARE YOU ABLE TO HEAR ME?

2:49:23>> WE CAN.

2:49:25>> MY NAME IS RYAN SOTOMAYOR. I

2:49:27USE A PRONOUNS. I'M A RESIDENT

2:49:29AND RENTER IN DISTRICT THREE.

2:49:31I'M A PARENT OF TWO CHILDREN,

2:49:34AND OUR NEIGHBORHOOD PUBLIC

2:49:35SCHOOL. MY SPOUSE WORKS FOR THE

2:49:40COUNTY AS AN INDIGENOUS

2:49:42LIBRARIAN FOR YOUNG PEOPLE, AND

2:49:45I'M HERE AS A BUSINESS MANAGER

2:49:47OF LABORERS LOCAL 483 LABORERS

2:49:49LOCAL 43 REPRESENTS WORKERS IN

2:49:51THE PORT OF PORTLAND, BOTH THE

2:49:53AIRPORT AND AT THE PORT, THE

2:49:56METRO, AT THE ZOO AND IN

2:49:58NATURAL AREA LAND MANAGEMENT

2:50:01AND PARKS AND NATURE THROUGHOUT

2:50:04THE TRI COUNTIES. WE REPRESENT

2:50:07FOLKS THAT DO LANDSCAPING AT

2:50:09RESOURCE RELAY RESOURCES, BOTH

2:50:10ON THE EAST AND THE WEST SIDE.

2:50:13WE ALSO REPRESENT FOLKS IN

2:50:14SILVERTON AND MOUNT ANGEL. WE

2:50:16HAVE A SMALL CONTRACT UP AT THE

2:50:18ZOO WITH LEVY RESTAURANTS, AND

2:50:22WE REPRESENT WORKERS AT THE

2:50:23CITY OF PORTLAND. THE PORTLAND

2:50:24CITY LABORERS CONTRACT, WHICH

2:50:26IS CURRENTLY BARGAINING WITH

2:50:27THE CITY OF PORTLAND. THE

2:50:28RECREATION CONTRACT, WHICH IS

2:50:30CURRENTLY BARGAINING WITH THE

2:50:31CITY OF PORTLAND AND THE

2:50:32SEASONAL MAINTENANCE WORKER

2:50:34CONTRACT, WHICH IS WITH THE

2:50:37CITY OF PORTLAND. AND THEN WE

2:50:38ALSO ARE REPRESENTING NEW

2:50:41GROUPS AT THE PORTLAND JAPANESE

2:50:44GARDENS. I REALLY APPRECIATE

2:50:46ALL THE PUBLIC TESTIMONY FROM

2:50:51ORGANIZATIONS AND FROM PEOPLE

2:50:52AND THE PUBLIC THAT HAVE COME

2:50:53OUT. SO I'M NOT GOING TO

2:50:55BELABOR ALL THE POINTS THAT

2:50:56PEOPLE HAVE TALKED ABOUT. I

2:50:58JUST WANT TO MENTION AS A

2:51:00LEGISLATIVE POLICY THAT WE LOVE

2:51:02THIS. WE WANT TO ACKNOWLEDGE

2:51:04COUNCILOR NOVAK'S WORK IN THE

2:51:06PAST TO GET THIS PASSED AS A

2:51:08BEAUTIFUL PIECE OF LEGISLATION.

2:51:10WE LOVE TO SEE THAT IT'S BEING

2:51:12WORKED ON, NOT ONLY FOR THE

2:51:13BUDGET, BECAUSE FOR THE CITY OF

2:51:14PORTLAND CONTRACTS THAT WE

2:51:17REPRESENT, IT'S BUDGET, BUDGET,

2:51:18BUDGET, BUT IT ALSO GENERATES

2:51:20REVENUE, WHICH IS WHAT WE NEED

2:51:21IN THE CITY OF PORTLAND. AND

2:51:23BEYOND THAT, IT SUPPORTS SMALL

2:51:25LOCAL BUSINESSES. MANY OF OUR

2:51:26FOLKS THAT WORK AT THE CITY OF

2:51:28PORTLAND ALSO HAVE SMALL

2:51:30BUSINESSES ON THE SIDE. I ALSO

2:51:33WANT TO SHOUT OUT THE WORK

2:51:35THAT'S BEEN DONE, THE POLICY

2:51:37INPUT, THE OUTREACH THAT'S BEEN

2:51:39DONE BY COUNCILORS, THE

2:51:41FEEDBACK THAT THEY'VE TAKEN

2:51:43FROM LABOR AND FROM MANY OTHER

2:51:45GROUPS, THE PARTNERSHIP

2:51:46BUILDING AND COALITION BUILDING

2:51:47THAT THEY'VE DONE AND THE

2:51:48OUTREACH. I REALLY APPRECIATE

2:51:50IT WHEN COUNCIL OFFICES REACH

2:51:53OUT TO OUR UNION DIRECTLY,

2:51:55PARTICULARLY WHEN WE CAN

2:51:57PROVIDE FEEDBACK THAT WOULD BE

2:51:58HELPFUL. I JUST WANT TO OFFER

2:52:02OUR SUPPORT. THIS IS A GREAT

2:52:03THING. THIS WOULD BE A GREAT

2:52:05THING FOR ALL THE DISTRICTS. I

2:52:06LIVE IN DISTRICT THREE IN THE

2:52:09SOUTHEAST FOSTER-POWELL, MOUNT

2:52:11SCOTT ARLETA NEIGHBORHOOD, AND

2:52:13THERE ARE SO MANY EMPTY

2:52:14STOREFRONTS THAT WE START TO

2:52:16FILL UP AND IT WOULD REVITALIZE

2:52:17THE NEIGHBORHOOD AND THE

2:52:19RENAISSANCE THAT IS TALKED

2:52:20ABOUT, BUT WORKING PEOPLE HAVE

2:52:21NOT EXPERIENCED COULD BEGIN TO

2:52:23HAPPEN. PLEASE SUPPORT THIS.

2:52:24THANK YOU FOR YOUR TIME AND

2:52:26CONSIDERATION.

2:52:29>> TOBIAS, YOU CAN GO AHEAD

2:52:30ONLINE. TOBIAS FORSBERG YOU CAN

2:52:40UNMUTE AND TESTIFY. GO AHEAD.

2:52:52>> ALL RIGHT. GOOD MORNING. MY

2:52:54CAMERA'S NOT WORKING. BUT MY

2:52:55NAME IS TOBIAS FORSBERG. AND I

2:52:56LIVE IN SOUTHEAST WOODSTOCK,

2:52:58DISTRICT THREE. I'M A NATIVE

2:53:00OREGONIAN, A HUSBAND, A FATHER,

2:53:02A PTA MEMBER, A SMALL BUSINESS

2:53:03OWNER, AND A FORMER ELECTED

2:53:05OFFICIAL. I'M NOT HERE TO URGE

2:53:06YOU TO REJECT THE PROPOSED TAX

2:53:08ON LARGE CORPORATIONS. I'M GLAD

2:53:09YOU'RE ACKNOWLEDGING AND USING

2:53:11HIGH BUSINESS TAXES IN PORTLAND

2:53:13AS THE REASON YOU BELIEVE WE

2:53:14NEED YET ANOTHER TAX ON

2:53:17BUSINESSES. BUSINESSES, IN MANY

2:53:18CASES THAT EMPLOY MANY PEOPLE

2:53:20IN OREGON, AND IN MANY CASES

2:53:21WITH HIGHER WAGES AND BETTER

2:53:23BENEFITS BECAUSE OF ECONOMIES

2:53:24OF SCALE. IT'S AN INTERESTING

2:53:26ARGUMENT. AND AGAIN, I'M NOT

2:53:28HERE AGAINST THE PREMISE. IN

2:53:29FACT, THERE ARE HUGE

2:53:31DISPARITIES. BUT YOU'RE ACTING

2:53:32AS IF WE NEED THIS IN ORDER TO

2:53:34PROTECT SMALL BUSINESSES WHEN

2:53:35THERE ARE OTHER SOLUTIONS. IF

2:53:37WE WERE AN UNDERTAXED CITY,

2:53:39THIS WOULD BE A SOLUTION. IF WE

2:53:41WERE, IF WE WEREN'T ONE OF THE

2:53:42SLOWEST TO RECOVER, AND IT'S

2:53:44NOT BECAUSE OF LARGE

2:53:45CORPORATIONS, IT'S BECAUSE WE

2:53:46WERE SLEEPING AT THE WHEEL

2:53:48DURING THE PANDEMIC AND FOR

2:53:49YEARS THEREAFTER. AND I'D BE

2:53:50HERE SUPPORTING IT AND NOT

2:53:52ASKING YOU TO TAKE A STEP BACK

2:53:53AND LOOK AT IT FROM A LONGER

2:53:55TERM, HOLISTIC APPROACH. BUT

2:53:57PORTLAND IS STILL RECOVERING

2:53:58FROM THE PANDEMIC AND THE RIOTS.

2:54:00WE'VE LOST EMPLOYERS AND

2:54:01FAMILIES WHO'VE LEFT BECAUSE OF

2:54:02SAFETY CONCERNS, VISIBLE

2:54:04DISORDER, AND RISING COSTS OF

2:54:05LIVING. IN FACT, IN THE TWO

2:54:07YEARS FOLLOWING THE PANDEMIC,

2:54:08WHEN OTHER CITIES WERE

2:54:09RECOVERING, WE LOST THOUSANDS

2:54:10OF FAMILIES AND OVER $1 BILLION

2:54:12IN TAXABLE REVENUE FROM HARD

2:54:14WORKING FAMILIES. WE ALREADY

2:54:16CARRY ONE OF THE HEAVIEST TAX

2:54:17BURDENS IN THE COUNTRY, AND

2:54:18ADDING ANOTHER TAX ON

2:54:20BUSINESSES THAT PROVIDE JOBS

2:54:21SENDS THE WRONG MESSAGE AT THE

2:54:23WORST POSSIBLE TIME. BECAUSE

2:54:25WHEN A COMPANY DECIDES WHERE TO

2:54:26LOCATE OR TO EXPAND, IT

2:54:29COMPARES COSTS, AND EVERY NEW

2:54:30TAX MAKES THE CHOICE TO LEAVE

2:54:32OR TO NEVER COME OR TO SCALE

2:54:34BACK THAT MUCH EASIER. AND WHEN

2:54:36LARGE EMPLOYERS GO, WE LOSE

2:54:38MORE THAN THEIR TAX REVENUE. WE

2:54:40LOSE THE PAYCHECKS ASSOCIATED

2:54:41WITH THEM. WE LOSE THE SMALL

2:54:43BUSINESSES THAT DEPEND ON THEM,

2:54:45AND THE DOWNTOWN FOOT TRAFFIC

2:54:46THAT KEEPS OUR CITY ALIVE. THE

2:54:48CITY COUNCIL JUST APPROVED THE

2:54:50LARGEST OPERATING BUDGET IN

2:54:52PORTLAND'S HISTORY AT $8.6

2:54:53BILLION, AND THAT DOESN'T

2:54:54INCLUDE MULTNOMAH COUNTY'S $4

2:54:57BILLION BUDGET OR METRO'S $2

2:54:58BILLION BUDGET. RESIDENTS ARE

2:55:00BEING ASKED TO PAY MORE AT

2:55:02EVERY LEVEL OF GOVERNMENT AND

2:55:03IN THE PRIVATE SECTOR. SO THE

2:55:05PROBLEM ISN'T THAT WE DON'T

2:55:06HAVE ENOUGH. IT'S THAT WE DON'T

2:55:09PRIORITIZE WHAT WE SPEND. OTHER

2:55:11CITIES HAD HANDLED THE POST

2:55:12PANDEMIC PERIOD RESPONSIBLY.

2:55:14THEY REVIEWED THEIR BUDGETS,

2:55:15TRIMMED PROGRAMS THAT WEREN'T

2:55:16DELIVERING RESULTS, AND

2:55:17RETURNED TO SPENDING LEVELS

2:55:19THAT THE ECONOMY COULD SUPPORT.

2:55:20PORTLAND HASN'T DONE THAT. TO

2:55:22PUT THINGS INTO PERSPECTIVE,

2:55:24DENVER, COLORADO AND BOSTON,

2:55:25MASSACHUSETTS, CITIES WITH THE

2:55:26SAME POPULATION. HAVE AROUND $5

2:55:30BILLION. NO ONE'S TALKING ABOUT

2:55:31BUDGET BLOAT OR MAKING CUTS,

2:55:33ONLY RAISING TAXES IN A

2:55:34COMMUNITY THAT HAS THE SECOND

2:55:36HIGHEST MARGINALIZED TAX BURDEN

2:55:37IN THE NATION. SO I THINK THE

2:55:40FIRST THING WE SHOULD DO, AND

2:55:41WHAT I'M ASKING YOU TO DO

2:55:43BEFORE WE ADD ANOTHER TAX, EVEN

2:55:44IF IT'S POPULAR, IS TO AUDIT

2:55:46CURRENT SPENDING LEVELS AND CUT

2:55:47UNDERPERFORMING PROGRAMS,

2:55:48STREAMLINE PERMITTING, PROVIDE

2:55:49BUSINESS TAX CREDITS. FACT OF

2:55:51THE MATTER IS WE HAVE ENOUGH

2:55:53MONEY AND PERCEPTION IS

2:55:54EVERYTHING. ADDING ANOTHER TAX

2:55:55NOW, EVEN IF IT'S JUSTIFIED,

2:55:56ISN'T THE FIRST STEP. SORRY.

2:55:59THANK YOU.

2:56:01>> EDITH GILLIS, YOU CAN GO

2:56:02AHEAD ONLINE.

2:56:04>> THANK YOU. I'M EDITH GILLIS,

2:56:05DISTRICT THREE. I WAS A YOUNG

2:56:07CHILD IN PORTLAND. IN THE LAST

2:56:0943 YEARS, I'VE LIVED IN EACH OF

2:56:10THE FOUR QUADRANTS AS A

2:56:13VOLUNTEER, PROVIDING ESSENTIAL

2:56:14SERVICES. OUR CITY AND

2:56:16CORPORATIONS FAILED TO PROVIDE.

2:56:18IF YOU DON'T PASS THIS

2:56:19EXCELLENT FAIR SHARE TRADE TAX

2:56:22ORDINANCE, YOU WILL CONTINUE TO

2:56:23MAKE PORTLAND WORSE, MAKING

2:56:25MORE PORTLAND'S. THERE'S

2:56:27FURIOUS AT YOU LOSING CITY

2:56:29MONEY, DESTROYING OUR LOCAL

2:56:30ECONOMY, MAKING MORE

2:56:31PORTLANDERS INCREASINGLY POORER,

2:56:33HOMELESS, SICK AND ENRAGED. YOU

2:56:36ARE REQUIRED BY LAW TO BE

2:56:37FISCALLY RESPONSIBLE FOR THE

2:56:39CITY BUDGET. REQUIRED SERVICES

2:56:40AND DEMOCRACY AS WELL AS LOCAL

2:56:42ECONOMY. AND IF YOU PASS THIS,

2:56:44YOU WILL BE HELPING EVERYONE.

2:56:46IF YOU PASS THIS, YOU WILL BE

2:56:49HELPING THE UNETHICALLY,

2:56:51UNFAIRLY WEALTHY CEOS WHO NEED

2:56:53THIS PASSED SO THEY WILL HAVE

2:56:55THE CUSTOMERS AND SERVICES THEY

2:56:59NEED, AND A STRONG AND HEALTHY,

2:57:00HOPEFUL COMMUNITY, ABLE AND

2:57:02WILLING TO SPEND MONEY TO

2:57:05VOLUNTEER TO WORK FOR THEM.

2:57:07PASSING THIS INCREASES EMPLOYEE

2:57:09MORALE AND EMPLOYEE

2:57:12PRODUCTIVITY AND CORPORATE

2:57:13HEALTH, AND THE CORPORATE

2:57:15GOODWILL. PASSING. THIS HELPS

2:57:18SMALL LOCAL BUSINESSES AND

2:57:20NONPROFITS WHICH PROVIDE MORE

2:57:22AND BETTER JOBS, BENEFITS,

2:57:24SERVICES, LIVABILITY, ECONOMY,

2:57:26SECURITY, SAFETY, CLIMATE

2:57:28JUSTICE, SOCIAL JUSTICE AND

2:57:30DISASTER RESILIENCE, AS WELL AS

2:57:31COMMUNITY STRENGTH AND HOPE.

2:57:32THEN DO ALL THE LARGE

2:57:35CORPORATIONS WITH LARGE GAPS

2:57:37BETWEEN THE PAY OF CEOS AND

2:57:39MEDIAN WORKERS, THE KINDS OF

2:57:41EMPLOYERS, BUSINESSES AND

2:57:43NONPROFITS THAT WE WANT IN

2:57:44PORTLAND. TREAT WORKERS RIGHT,

2:57:48TREAT SUPPLIERS, CUSTOMERS,

2:57:50NEIGHBORS, THE ENVIRONMENT, AND

2:57:52THE CITY GOVERNMENT WITH

2:57:54JUSTICE, RESPECT, AND

2:57:56COMPASSION. AND BY PASSING THIS,

2:57:58YOU CAN ONLY SUCCEED IF YOU

2:58:00PASS. LARGE CORPORATIONS WHOLE

2:58:03POLICIES AND PRACTICES THAT

2:58:04PREVENT LOCAL MANAGERS FROM

2:58:07ACTING ETHICALLY, PRACTICALLY,

2:58:09COMPASSIONATELY WHILE LOCAL

2:58:10GOOD BUSINESSES PAY A HIDDEN

2:58:13ADDITIONAL TAX BY PROVIDING THE

2:58:16GOODS, SERVICES, ADVERTISING,

2:58:18SPACE AND MONEY NEEDED TO MAKE

2:58:20OUR COMMUNITIES AND CITIES

2:58:22STRONG. PASSING THIS FAIR SHARE

2:58:24TAX GIVES US THE NEEDED HOPE

2:58:26AND ABILITY WE NEED TO SURVIVE.

2:58:28WHILE I THINK THIS EO FAIR

2:58:30SHARE PAY TAX SHOULD BE MUCH

2:58:32LARGER, BUT AT LEAST PASS THIS.

2:58:36YESTERDAY I HAD SOMEONE LIVING

2:58:38WITH ME WHO'S LOST HIS HOUSING

2:58:40BECAUSE HIS WIFE JUST DIED,

2:58:42CAN'T BE IN ASSISTED LIVING.

2:58:43AND BEFORE THAT, SOMEONE WHO

2:58:44WAS SUICIDAL LOST THEIR JOB AND

2:58:46THEIR HOUSING BECAUSE PEOPLE

2:58:48ARE DEPRESSED. THE ECONOMY, THE

2:58:52JUSTICE IS DENIED THEM. WHEN

2:58:53YOU PASS THIS, YOU GIVE PEOPLE

2:58:55MORE OF A REASON TO STAY ALIVE,

2:58:57STAY COMMITTED, STILL CARING

2:58:59FOR EACH OTHER. WE NEED THIS

2:59:01PASSED. AND YES, YOU CAN CUT

2:59:02THE BLOATED BUDGET FOR THE COPS.

2:59:05PASS THIS AND THANK YOU, VICKI.

2:59:08>> YOU CAN GO AHEAD ONLINE.

2:59:13>> HI, MY NAME IS VICKI PAYNE.

2:59:14I'M SPEAKING ON MY OWN BEHALF

2:59:16TODAY AGAINST THIS ABSURD

2:59:17PROPOSAL. I'M BY NO MEANS

2:59:18STUMPING FOR BIG CORPORATIONS,

2:59:20BUT WE HAVE TO STOP THINKING

2:59:21THAT LOCAL TAXES AND FIXES ARE

2:59:23SOMEHOW GOING TO STOP A WEALTHY

2:59:24CORPORATION FROM PACKING UP AND

2:59:26LEAVING, OR LOWERING THEIR

2:59:27PRICES, OR PAYING EMPLOYEES

2:59:28MORE. WE ARE ONE CITY OF

2:59:30600,000 PEOPLE IN A COUNTRY OF

2:59:32MILLIONS. WE AREN'T SOLVING THE

2:59:33WEALTH INEQUALITY OF OUR

2:59:34COUNTRY AS A SINGLE CITY. WE

2:59:36NEED TO PUSH THESE THINGS AT

2:59:37THE FEDERAL LEVEL, OR ELSE YOU

2:59:39GET ANOTHER ELON MUSK STARBASE

2:59:40IN THE MIDDLE OF NOWHERE, TEXAS,

2:59:41TO AVOID THEM. I LIVE IN A LOW

2:59:43INCOME NEIGHBORHOOD IN PORTLAND,

2:59:44NEAR DELTA PARK IN JENSEN BEACH,

2:59:46AND I HAVE WATCHED THESE BIG

2:59:47BOX STORES CLOSING. ELMER'S

2:59:49CLOSED THEIR DELTA PARK

2:59:50LOCATION NOT BECAUSE THEY

2:59:51WEREN'T BUSY, BUT BECAUSE THEY

2:59:52WERE SICK OF HAVING TO REPLACE

2:59:54BROKEN WINDOWS AND DEAL WITH

2:59:55THEFT AND ILLEGAL CAMPING. OF

2:59:56COURSE, TAXES PLAY A ROLE

2:59:58COMBINED WITH THESE ISSUES WHEN

2:59:59THEY ARE SO HIGH, BUT IT'S NOT

3:00:01THE SOLE REASON BUSINESSES ARE

3:00:02LEAVING OR CHOOSING NOT TO OPEN

3:00:03UP. IN PORTLAND, I HEAR YOU

3:00:05BRAGGING THAT EVEN IF THE

3:00:06COMPANY LEAVES, THEY STILL SELL

3:00:07PRODUCTS HERE. SO WE STILL

3:00:09COLLECT THE TAX. WELL, THAT

3:00:10SOUNDS NICE. YOU'RE COMPLETELY

3:00:11LEAVING OUT THE PART ABOUT

3:00:12LOSING JOBS. YOU ALL KEEP

3:00:14MENTIONING STARBUCKS, BUT IT

3:00:15FAILED TO MENTION HOW MANY

3:00:17STARBUCKS STORES HAVE ALREADY

3:00:18SHUTTERED IN PORTLAND, AND HOW

3:00:19MANY THAT ARE LEFT THAT DON'T

3:00:20HAVE THE OPTION TO SIT DOWN

3:00:22INSIDE ANYMORE. NOT ONLY ARE

3:00:23YOU TAKING AWAY JOBS, YOU ARE

3:00:25TAKING AWAY THIRD SPACES FOR

3:00:26OUR COMMUNITY. MOST PEOPLE GO

3:00:28TO STARBUCKS FOR CONVENIENCE

3:00:29BECAUSE THEY'RE ON BUSY ROADS

3:00:30AND OFTEN HAVE DRIVE THRUS.

3:00:32THIS ISN'T GOING TO REDIRECT

3:00:33THEM TO THEIR LOCAL COFFEE SHOP

3:00:34THAT ISN'T ON THE DRIVE INTO

3:00:36WORK. THEY WILL JUST START

3:00:37MAKING COFFEE AT HOME. EVERYONE

3:00:39LOSES, ESPECIALLY IF THEY BUY

3:00:40THEIR BEANS FROM AMAZON. ALL OF

3:00:42THE PEOPLE WHO HAVE TIME AND

3:00:44MONEY TO SPEND SO OFTEN AT

3:00:45THEIR LOCAL MOM AND POPS ARE

3:00:47REALLY SHOWING THEIR PRIVILEGE.

3:00:48WE HAVE SPOKEN TODAY, AS MANY

3:00:49OF US CANNOT AFFORD HIGHER

3:00:50PRICES AT OUR LOCAL SHOPS

3:00:52REGULARLY, VERSUS LOSING ALL OF

3:00:53THE WALMART'S AT PORTLAND IN

3:00:54PORTLAND A FEW YEARS AGO, FOR

3:00:56EXAMPLE, I OFTEN SAW MY ELDERLY

3:00:57NEIGHBORS SHOPPING AT THE ONE

3:00:58THAT USED TO BE NEAR ME. WE ARE

3:01:00LIKELY ABOUT TO LOSE MANY OF

3:01:02OUR DOLLAR TREE STORES. NEXT,

3:01:03ANOTHER LIFELINE FOR OUR LOW

3:01:04INCOME NEIGHBORS. I'M ALSO

3:01:06REALLY CONCERNED ABOUT

3:01:08MANUFACTURING JOBS IN PORTLAND.

3:01:09WE LOST DAIMLER AND KEEN. I

3:01:10HAVE A FRIEND WHO WORKS FOR

3:01:12COAST WHO RECENTLY EXPANDED

3:01:13THEIR PRODUCTION FACILITIES.

3:01:14WILL THEY BE NEXT TO RELOCATE

3:01:16AND WILL MY FRIEND BE OUT OF A

3:01:17JOB NEXT? I SAW THIS HAPPEN IN

3:01:19MY HOME STATE OF NEW YORK IN

3:01:21THE MID 90S WHEN THEY RAISED

3:01:22TAXES ON LARGE BUSINESSES. OUR

3:01:24BEST PAYING MANUFACTURING JOBS

3:01:25MOVED SOUTH, ARE COMPLETELY OUT

3:01:26OF THE COUNTRY, AND MY HOME

3:01:27COUNTY SUDDENLY BECAME VERY

3:01:28POOR, FORCING PEOPLE TO COMMUTE

3:01:30UP TO AN HOUR AWAY TO FIND

3:01:32SIMILAR PAYING JOBS. WE'VE

3:01:33ALREADY SEEN GROCERY STORES

3:01:34CLOSING. I'M VERY NERVOUS. MY

3:01:36NORTH INTERSTATE FRED MEYER,

3:01:37WILL BE THE NEXT TO LEAVE

3:01:39FOLLOWING SIMILAR THREATS THAT

3:01:40EVENTUALLY LOST US THEIR

3:01:41GATEWAY STORE. WELL, THE GAS

3:01:42STATIONS CLOSE NEXT. YOU FAIL

3:01:44TO REALIZE THESE EVIL

3:01:45CORPORATIONS ARE THE ONLY

3:01:46PEOPLE WHO ARE HIRING AND

3:01:47WILLING TO HIRE OUR NEIGHBORS

3:01:48COMING OUT OF HOMELESSNESS. I

3:01:50KNOW COUNCILOR ZIMMERMAN HAD A

3:01:52JOB AT MCDONALD'S ONCE. HOW

3:01:53MANY OF THE REST OF YOU HAVE

3:01:55HELD A POSITION IN FAST FOOD

3:01:56GUESSING NOT MANY OF YOU POOR

3:01:58WHITE TRASH LIKE MYSELF HAVE

3:01:59HAD TO RELY ON THESE EVIL

3:02:00CORPORATE JOBS TO PAY OUR BILLS.

3:02:02HOWEVER, BECAUSE WE AREN'T WELL

3:02:03CONNECTED. SO INSTEAD WE SEE

3:02:04FORMERLY HOMELESS PEOPLE

3:02:05DRIVING AROUND DELIVERING FOR

3:02:06DOORDASH AND UBER. INSTEAD OF

3:02:07RIDING TRANSIT TO A LOCAL

3:02:09STEADY JOB, YOU ARE FAILING TO

3:02:10ATTRACT NEW BUSINESSES TO

3:02:11PORTLAND. SO INSTEAD YOU ARE

3:02:13THREATENING TO TAX THE ONES WHO

3:02:14REMAIN. THE PROBLEM IS

3:02:15PARTIALLY TAXES, BUT AGAIN,

3:02:16IT'S MORE SO LACK OF PUBLIC

3:02:18SAFETY, WHICH AFFECTS FOOT

3:02:20TRAFFIC TO OUR BELOVED SMALL

3:02:21BUSINESSES. I'M. SO THANK YOU

3:02:23ALL IN STOCK AND AMAZON PLEASE.

3:02:25THANK YOU. ECONOMY.

3:02:26>> AND I THINK WE HAVE ONE

3:02:29PANEL LEFT. WE'VE BEEN GIVEN

3:02:31THE CHANCE TO GO A COUPLE

3:02:32MINUTES OVER. THIS IS ONE PANEL

3:02:34OF FIVE FOLKS. SO I WOULD LOVE

3:02:35IT IF WE COULD MAINTAIN QUORUM

3:02:38THROUGH THAT. AND THEN WE'LL

3:02:39GET THROUGH IT. WE'LL HAVE ONE

3:02:40QUICK WRAP UP AND THEN WE'LL

3:02:42END FOR THE DAY. THANKS.

3:02:43>> ADAM MURRAY, SKYLAR CRUZ, TY

3:02:46GORDON, BRANDON MULLEN, O.

3:02:49NGUYEN. ADAM, YOU CAN GO AHEAD.

3:02:59>> THANKS. GOOD AFTERNOON

3:03:00COUNCIL. HELLO, CHAIR. THANK

3:03:02YOU FOR LETTING ME SPEAK TODAY.

3:03:04MY NAME IS ADAM MURRAY. I'M

3:03:05SPEAKING ON BEHALF OF MYSELF

3:03:06TODAY. YOU KNOW, THERE ARE A

3:03:09LOT OF PRECONCEIVED NOTIONS

3:03:10ABOUT THIS BODY, AND THERE ARE

3:03:13A LOT OF FOLKS WHO VIEW YOU ALL

3:03:15IN A CERTAIN LIGHT. THEY VIEW

3:03:17ONE SIDE AS THOUGH YOU SEE THE

3:03:18OTHER AS INTRANSIGENT, AND THEY

3:03:20VIEW THE OTHER SIDE AS THOUGH

3:03:21THEY SEE THE OTHER AS A

3:03:24RECALCITRANT. I DON'T FIND THAT

3:03:26TO BE TRUE, AND THAT'S BECAUSE

3:03:27I'VE HAD THE PLEASURE OF, YOU

3:03:29KNOW, WORKING WITH YOU ALL AND

3:03:31MEETING YOU IN SOME CAPACITY OR

3:03:33ANOTHER. AND YOU'VE ALL

3:03:34IMPRESSED ME VERY MUCH WITH HOW

3:03:36MUCH YOU ACTUALLY LOVE THE CITY.

3:03:38YOU KNOW, YOU HAVE

3:03:39DISAGREEMENTS REGULARLY. THAT'S

3:03:41NORMAL FOR ANY LEGISLATIVE BODY.

3:03:42AND AS A PUBLIC, I WANT US TO

3:03:45TO JUST HAVE MORE FAITH IN YOUR

3:03:48ABILITY TO BE MUTABLE. I

3:03:51HONESTLY, THERE'S A COUPLE OF

3:03:53THINGS I WANT TO ADDRESS. ONE

3:03:54IS THAT DURING TESTIMONY TODAY,

3:03:56A REALLY INAPPROPRIATE COMMENT

3:03:58WAS MADE ABOUT COUNCILOR NOVICK.

3:04:00I JUST WANT TO REPUDIATE THAT

3:04:02ATTITUDE. I KNOW THAT AS

3:04:03PORTLANDERS, WE'RE BETTER THAN

3:04:04THAT. ANOTHER THING I WANT TO

3:04:06SAY IS COUNCILOR DAN RYAN, I'M

3:04:08ACTUALLY REALLY THANKFUL FOR

3:04:09YOU. YOU KNOW, I KNOW A LOT OF

3:04:10PEOPLE WHO GIVE YOU A ROUGH

3:04:12TIME BECAUSE THEY DON'T KNOW

3:04:13YOU VERY WELL, BUT IN THE TIME

3:04:15THAT I'VE WORKED WITH YOU, YOU

3:04:16ACTUALLY HAVE SHOWN ME TO HAVE

3:04:18QUITE AN OPEN MIND AND AN OPEN

3:04:20EAR AND SO ON. THIS PARTICULAR

3:04:21ISSUE, I THINK WHAT WE'RE

3:04:24REALLY FACING HERE IS A BATTLE

3:04:26OF PERCEPTIONS AND HOW YOU WORK

3:04:27TOGETHER. I THINK IT'S VERY

3:04:29CLEAR THAT THIS IS A VERY

3:04:30POPULAR PIECE OF LEGISLATION,

3:04:32AND THERE MAY BE OPPORTUNITIES

3:04:33TO MAKE IT BETTER. THERE MAY BE

3:04:36OPPORTUNITIES THROUGH THE

3:04:36INCENTIVE PATHWAYS THAT

3:04:38COUNCILOR GREEN AND COUNCILOR

3:04:39MORILLO HAVE CARVED OUT VERY

3:04:41INTELLIGENTLY IN THIS

3:04:42LEGISLATION TO CREATE FURTHER

3:04:44INCENTIVES THAT ACTUALLY MAY

3:04:46INSPIRE CHANGE IN

3:04:47ORGANIZATIONAL APPROACHES,

3:04:49POTENTIALLY NATIONWIDE. THERE'S

3:04:51A LOT TO CONSIDER HERE, BUT I

3:04:54THINK WHAT YOU SHOULD CONSIDER

3:04:56IS PATHWAYS TOWARDS

3:04:58CONSCIENTIOUS AMENDMENTS AND A

3:04:59PROCESS IN DISCUSSING THOSE

3:05:01AMENDMENTS AND HAVING FAITH IN

3:05:02ONE ANOTHER TO MAKE THE

3:05:04NECESSARY CONCESSIONS AND TO

3:05:06JUST FIND A WAY TO. YES, I

3:05:08BELIEVE YOU CAN DO THAT. AND I

3:05:10THINK THAT THIS IS VERY

3:05:11IMPORTANT LEGISLATION, AND I

3:05:13THINK WE ALL ACKNOWLEDGE THE

3:05:15CRITICAL NEED TO TO BUILD

3:05:17REVENUE RIGHT NOW. AND, YOU

3:05:19KNOW, FOLKS HAVE FEELINGS ABOUT

3:05:21TAXES BEING THE WAY WE GET

3:05:22THERE. I ENCOURAGE YOU ALL TO

3:05:25CONTINUE TO BRAINSTORM, BUT TO

3:05:27VOTE YES ON THIS UNTIL YOU FIND

3:05:29OTHER WAYS TO DRIVE THAT

3:05:30REVENUE. THANK YOU SO MUCH, I

3:05:32YIELD.

3:05:36>> HELLO, CITY COUNCIL. MY NAME

3:05:38IS SKYLAR CRUZ. I'M A RESIDENT

3:05:39OF DISTRICT FOUR AND A MEMBER

3:05:41OF PORTLAND'S A. I'M IN SUPPORT

3:05:42OF THE FAIR SHARE TAX AS I

3:05:44BELIEVE OUR SMALL BUSINESSES

3:05:45ARE THE LIFEBLOOD OF OUR

3:05:47COMMUNITIES. GROWING UP LOWER

3:05:49CLASS IN LONGVIEW, WASHINGTON,

3:05:50MY FAMILY HAS HELD MANY JOBS IN

3:05:52SMALL BUSINESSES. MY MOTHER

3:05:54WORKS THE BOX OFFICE OF A LOCAL

3:05:56THEATER, AND WHEN I WAS A SMALL

3:05:57CHILD, SHE WORKED AT THE LOCAL

3:05:58ROLLER RINK VISITING OAKS PARK.

3:06:00ROLLER RINK IS ACTUALLY ONE OF

3:06:01MY FAVORITE ACTIVITIES HERE

3:06:03TODAY IN PORTLAND. IF YOU

3:06:04HAVEN'T BEEN TO OAKS PARK

3:06:05ROLLER RINK, YOU SHOULD SUPPORT

3:06:06THEM AND SHRED THE RINK, SHRED

3:06:08SHRED ON THE RINK WITH ME. IT'D

3:06:10BE REALLY FUN, BUT MY MOTHER'S

3:06:11EMPLOYMENT HISTORY HASN'T

3:06:13ALWAYS BEEN SO ROSY. IN THE

3:06:15FALLOUT OF THE 2008 FINANCIAL

3:06:17CRISIS, MY MOTHER FACED HER OWN

3:06:18EMPLOYMENT STRUGGLES, BUT

3:06:20ULTIMATELY WAS LUCKY ENOUGH TO

3:06:21LAND A JOB. BUT UNFORTUNATELY,

3:06:23IT WAS KIND OF THE MOST

3:06:24DEMORALIZING JOB OF HER LIFE.

3:06:26SHE WORKED AS A CLERK FOR A

3:06:27PAYDAY LOANS COMPANY. SHE GOT

3:06:29TO KNOW HER REGULARS, PEOPLE

3:06:31STRUGGLING TO MAKE ENDS MEET BY

3:06:32TAKING OUT ADVANCE LOANS ON

3:06:33THEIR PAYCHECKS WITH HIGH

3:06:35INTEREST RATES. THESE LOANS

3:06:37ULTIMATELY PUSHED THEM FURTHER

3:06:38INTO DEBT ON EACH VISIT, ALL

3:06:40WHILE MY MOTHER SERVICED THEM

3:06:41WITH A SMILE, AND THIS TIME SHE

3:06:44BEGAN DRINKING HEAVILY. SHE

3:06:45FELT LUCKY TO HAVE A JOB AND BE

3:06:47ABLE TO FINANCIALLY SUPPORT HER

3:06:48TWO CHILDREN, BUT THAT DIDN'T

3:06:49ERASE THE HUMAN SUFFERING SHE

3:06:51HAD TO WITNESS AND PERPETUATE

3:06:52THROUGH HER VERY OWN LABOR. IT

3:06:54WAS ONE OF THE HARDEST TIMES OF

3:06:55MY YOUNG LIFE AND CERTAINLY

3:06:57CAUSED ME TRAUMA. I'M UNSURE. I

3:06:58FULLY UNPACKED. THE SAME STORY

3:07:01IS HAPPENING TODAY WITH

3:07:02FAMILIES ALL OVER THE CITY. AS

3:07:03OUR SMALL BUSINESSES STRUGGLE,

3:07:05HOURS ARE CUT AND PORTLANDERS

3:07:07WAGES CAN'T PAY RENT. THE DOOM

3:07:08LOOP DOESN'T START WITH

3:07:09CORPORATIONS LEAVING. IT STARTS

3:07:11WITH SMALL BUSINESSES

3:07:12STRUGGLING, STOREFRONTS CLOSING

3:07:13AND WAGES DECLINING. ONE

3:07:15BUSINESS CLOSES THE WAGES LOST

3:07:17FROM ITS EMPLOYEES, WHICH COULD

3:07:18GO TO SUPPORTING OTHER

3:07:20BUSINESSES, DISAPPEAR AND OTHER

3:07:21BUSINESSES FOLLOW SUIT. I'VE

3:07:23BEEN HAPPILY SOBER FOR FOUR AND

3:07:25A HALF YEARS NOW. I ASK THAT

3:07:26YOU PASS THE FAIR SHARE TAX.

3:07:28DON'T BE THE REASON I START

3:07:29DRINKING AGAIN, JUST LIKE MY

3:07:31MOTHER DID. THANK YOU FOR YOUR

3:07:33TIME.

3:07:35>> GOOD AFTERNOON COUNSELORS.

3:07:37MY NAME IS AUNG NGUYEN. I LIVE

3:07:38IN DISTRICT THREE. FIRST OFF,

3:07:41I'D LIKE TO THANK COUNCILOR

3:07:43NOVICK FOR PUSHING THROUGH THE

3:07:45LAST VERSION OF THIS TAX. AND

3:07:47I'D LIKE TO COMMEND COUNCILOR

3:07:49KANAL GREEN AND MORILLO FOR

3:07:53PUSHING FORWARD THIS CURRENT

3:07:54ITERATION. SO I STRONGLY

3:07:57SUPPORT THE FAIR SHARE TAX. WE

3:07:59ARE LIVING IN AN AGE OF

3:08:01HISTORIC WEALTH AND INCOME

3:08:04INEQUALITY. THE BIG GUYS AT THE

3:08:06TOP ARE DOING BETTER THAN EVER,

3:08:09WHILE EVERYBODY ELSE ARE

3:08:11STRUGGLING MORE AND MORE JUST

3:08:12TO GET BY. BUT THE FAT CATS AT

3:08:16THE TOP DID NOT GET THERE, WITH

3:08:18JUST THE SWEAT OF THEIR BROW.

3:08:21NO, THEY RELIED ON MANY PUBLIC

3:08:24GOOD THINGS THAT ARE PAID FOR

3:08:27BY ALL OF US. AMAZON WOULDN'T

3:08:30BE ABLE TO DELIVER THEIR THINGS

3:08:31IN RECORD TIME IF IT WEREN'T

3:08:33FOR THE HIGHWAYS AND ROADS PAID

3:08:36FOR BY TAXPAYERS. TESLA AND

3:08:39SPACEX WOULD STILL BE WOBBLY

3:08:42STARTUPS IF IT WEREN'T FOR

3:08:44BILLIONS OF DOLLARS IN

3:08:46SUBSIDIES AND TAX CREDITS FROM

3:08:48THE GOVERNMENT. GOOGLE,

3:08:51FACEBOOK, AND PROBABLY THE

3:08:52ENTIRE INTERNET ECOSYSTEM WOULD

3:08:55NOT EXIST TODAY IF IT WEREN'T

3:08:57FOR DARPA PROJECTS FUNDED BY US

3:09:00TAXPAYERS. SO TO SAY. THE

3:09:04WEALTHY NEED TO PAY THEIR FAIR

3:09:06SHARE IS PERHAPS TOO MILD. I

3:09:10THINK THIS PROPOSAL REALLY

3:09:11SHOULD BE CALLED THE SUCK IT UP

3:09:14BUTTERCUP'S PROPOSAL. THANK YOU.

3:09:21>> I CONCLUDES TESTIMONY.

3:09:23>> ALL RIGHT.

3:09:24>> SO FIRST OFF, THANK YOU FOR

3:09:26VALIDATING THE FAITH THAT I

3:09:27HAVE IN PORTLANDERS WHO SIGNED

3:09:29UP TO TESTIFY FOR HELPING US

3:09:30GET THAT DONE EARLY AND NOT

3:09:32TAKING TIME. YOU DIDN'T NEED A

3:09:33QUICK HOUSEKEEPING NOTE FROM

3:09:34FROM COUNCILOR GREEN. AND THEN

3:09:36WE'RE GOING TO WRAP UP.

3:09:37>> YEAH, JUST REALLY QUICKLY

3:09:38WHILE WE STILL HAVE QUORUM. I

3:09:39JUST WANTED TO, AFTER THE

3:09:41VOLUME OF TESTIMONY WE'VE GOT,

3:09:42HEARING THAT IT'S VERY POPULAR

3:09:44REACHES A LOT OF FOLKS, LARGE,

3:09:47DEEP OUTREACH. I JUST WANT TO

3:09:50EXTEND COSPONSORSHIP TO ANY OF

3:09:52MY COLLEAGUES ON CITY COUNCIL.

3:09:54IF YOU WANT TO ADD YOUR NAME TO

3:09:55THIS BEFORE NEXT WEEK, WE'D

3:09:57LOVE TO HAVE YOU. SO FOR FOLKS

3:09:59WHO'VE ALREADY LEFT, I HOPE

3:10:00THAT YOUR STAFF IS LETTING YOU

3:10:02KNOW THAT THIS OFFER IS ON THE

3:10:03TABLE. THANKS.

3:10:05>> THANK YOU, COUNCILOR GREEN.

3:10:06SO THIS IS GOING TO WRAP UP OUR

3:10:08MEETING. TWO QUICK HOUSEKEEPING

3:10:09NOTES. WE DO NOT HAVE COUNCIL

3:10:11LATER TODAY. SO PICK UP

3:10:13OBVIOUSLY COMMITTEES NEXT WEEK

3:10:14AND THE NEXT MEETING OF THE

3:10:15COMMITTEE. THE WHOLE IS NEXT

3:10:17THURSDAY. MORNING. AND THANK

3:10:21YOU SO MUCH. WE'LL WRAP IT UP

3:10:23AT 12:35 P.M.