The Oregonian
By Andrew Theen
May 6, 2016
Portland State University won't be pursuing a controversial ballot initiative this November that would've generated $40 million a year from a payroll tax on metro businesses.
PSU abruptly pulled back the payroll tax plan Friday morning at a press conference on the Park Blocks campus. The school and metro business leaders said they will team up to pursue a yet-to-be determined permanent funding source for PSU.
"This agreement is a very important breakthrough for the university and the region," President Wim Wiewel said in his opening remarks. A newly formed College Affordability and Success Coalition with big names from Portland's business world will search for a solution that brings in "a minimum of $25 million" per year by 2019.
Wiewel will chair the new coalition alongside The Standard insurance's chief executive Greg Ness. Ness said the business leaders, which includes prominent University of Oregon alum and donor Tim Boyle, understand PSU has unique funding challenges.