STOP THE WALL STREET RIPOFF OF OREGON!
Issues and Positions
League of Women Voters - Voters Guide
Question: How would you ensure that State funds are invested safely and at good rates?
Answer: Oregon has over $89 billion of investment funds, much of it placed with vulture capitalists. Wall Street charges Oregon huge fees (not fully disclosed), likely over $500 million per year. Almost all of the money is invested outside of Oregon. Local governments also pay huge fees to Wall Street to float bonds for public works. We could save over $600 million per year by cutting out the Wall Street middle men: Oregon should loan funds tolocal governments for infrastructure projects.
Question: What ar your recommendations regarding PERS?
Answer: Bloomberg News reported n 2015 that Oregon's pension system ranked 4th in financial soundness among state pension programs; Pew Charitable Trusts found Oregon with the 3rd best-funded system. But PERS does have unfunded future liabilities of about $22 billion. These can be paid over time from the state budget, particularly if Measure 97 is approved. It would increase state revenue by $3 billion per year from large corporations. Oregon business taxes are currently the lowest in the USA.