Corporations raised $16 million to oppose Oregon's universal basic income plan. They won.

iStock; Rebecca Zisser/BI

• Oregon's universal basic income measure failed, with 78.8% of voters opposing the policy.
• The measure proposed giving $1,600 annually to state residents, funded by a corporate tax increase.
• Basic income programs have been tried across the US as an approach to poverty reduction.

Oregon's effort to institute a statewide universal basic income failed on November 5. With 73% of the total votes counted, The Associated Press reported that...