A candidate for mayor in the city of Portland, Ore. is campaigning on a promise to build more affordable housing by taxing the city’s millionaires – a plan known as the “Robin Hood” proposal – according to HousingWire staffer Ben Lane.
The candidate, David Schor, an assistant attorney general for the Oregon Department of Justice, is considered to be a “dark horse” for mayor. Schor told Portland’s KGW that his program could fund 10,000 public-owned housing units within the first five years.
He told KGW: “If we look at where new income has gone, more than half of the increase has gone to the top 1 percent of earners,” he said. “That’s an opportunity for Portland.”
Schor is proposing a local tax of around 8 percent for the city’s millionaires and hopes to get the proposal on a ballot. The tax, he said, would likely be collected in a similar fashion to the current arts tax.
He believes the tax could generate $200 million a year. That’s the same amount local housing advocates say the city needs to solve the current housing problem.