Eugene, Oregon, voters will soon decide whether to create a clean-energy fund paid for by a 2% fee on large corporations' profits earned within city limits. Companies with at least $1 billion in national gross profits and $500,000 in Eugene profits—such as Amazon, Walmart, and Wells Fargo—would be charged, with exemptions for groceries, medicine, and healthcare. The measure is expected to generate $15 million to $37 million annually for renewable-energy programs, efficiency retrofits, job training, and green infrastructure, with priority for low-income and historically marginalized communities.
Portland pioneered this approach in 2018 with a 1% fee on large retailers' local sales. It has raised far more than expected: nearly $200 million per year, not the initial estimate of $30–90 million, and about $1 billion total by June. That funding has supported community grants, renewable-energy additions, greenhouse-gas reductions, workforce training, and projects like heat-pump distribution and efficient affordable housing.
The Eugene measure has drawn broad backing from more than 100 environmental groups, labor unions, local businesses, and elected officials, who see it as a way to fill gaps left by federal climate-funding clawbacks. Opponents, including the Eugene Area Chamber of Commerce and Oregon Business & Industry, argue the fee would act as a hidden sales tax and raise retail prices. Supporters dispute that characterization, pointing to Portland's track record as evidence the approach can work.