Measure 97, formerly Initiative Petition 28, would create a 2.5 percent gross receipts tax on C-corps that have more than $25 million in Oregon sales. That’s a new tax on gross sales, not profits. If it passes, these businesses will have to pay the tax on their total revenues, regardless of if they make a profit or not. This would inevitably raise prices throughout the supply chain — ultimately acting as a consumption tax for all of us. Measure 97 would make Oregon products more expensive and Oregon companies less competitive.