Portland city councilors are unanimously supporting a proposal to reduce taxes for small businesses by raising the income threshold for the city’s Business License Tax. The proposal would increase the city's tax exemption from $50,000 to $75,000 this tax year and then $100,000 in the 2027 tax year. This means businesses would not have to pay the business licensing tax, currently at 2.6% in Portland, on the first $75k they make this year, which would then increase to $100k next year. If approved, the change would align Portland's exemption with Multnomah County's existing $100K threshold. The move is expected to lower taxes for thousands of small businesses and simplify the filing process.