Key 2024 Ballot Measures That Could Impact the Equipment Manufacturing Industry

While not as well-knownas the top federal and state candidatesvying for political officethis fall, ballot measures are an important part of the political process that voters decide on every election dayaround the U.S. If you have been to the ballot box, you have encounteredat least local ballot measures. The equipment manufacturing industry iscertainlyimpactedby theseballotmeasures.

According toBallotpedia,a ballot measurecan be"a citizen-initiated ballot measure."The ballot initiative"process allows citizens to propose statutesor constitutional amendments, depending on the state, and collect signatures to place their proposals on the ballot for voters to decide." As of 2024, 26 states allow for citizen-initiated ballot measures. Legislaturescan also place laws, in the form of ballot measures, on the ballot during an election for voters to decide. These are called legislative referrals.

One of the larger trendsin 2024that could impactequipment manufacturersisballot measures whichfocus on employee wages and compensation. Sixstates (Alaska, Ariz., Calif., Mass., Mo.,andNeb.) have current ballot measures for voters to decideon employee compensation.

In Nebraska, Initiative 436 is on the ballot and voters will decide if businesses there are required tooffer earned paid sick leave for employees, up to sevendays for businesses of at least 20 employees and five days for fewer than 20 employees.While in the other five states voters will decide to raise the minimum wage,and in the case of both Arizona (Proposition 138) and Massachusetts (Question 5),those minimum wageincreaseswouldbe for "tipped" workers.

In Oregon, Measure 118 would increase the minimum tax on corporations with Oregon sales by enacting a 3% tax on sales greater than $25 million in addition to the minimum tax already requiredin state law. It would direct theOregonDepartment of Revenue to distribute the revenue from the additional tax equally to Oregon residents who reside in the state for a total of 200 daysor more.The measure was certified for the ballot this past July after the Oregon Secretary of State approved the necessary collection of signatures. While influential entities like the Oregon grocers, many from the state legislature and the Governor's office are against Measure 118. Aswith any item on the ballot,there is still a chance it could pass.

Inaddition,Arkansas Issue 1 is up for voters to decide on election day. Issue 1, if approved by voters,will allow proceeds from the state lottery tobe used to fund scholarships and grants for public and private vocational-technical schools and technical institutes.Issue 1 originated in the state legislature during the 2023session andpassed unanimously through the legislative process. Since 2009,the Arkansas Scholarship Lottery has provided more than 700,000 college scholarships andraised more than $1 billionin scholarship funds.

Transportation funding is on the ballot in nearly 20states this election day. According to the Transportation Investment Advocacy Center, voters "will consider approximately 300 state, county, city and other local transportation investment questions on the November 5 General Election ballot."In Seattle,voters will decide on whether they willrenew a local propertytax which would lead to a $1.5 billioninvestment in the city's infrastructure, while 8 counties in South Carolina will ask voters to approve a new salestax specifically aimed for transportation purposes."Nationally, voters last year approved 88% of transportation investment measures on the ballot. This result tracked with historical trends; since 2014, voters in 43 states approved nearly 2,600- or 85% - of state and local ballot measures" writes the Transportation Investment Advocacy Center.

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