No community members pay this fee. PCEF is funded by a 1% surcharge on billion-dollar corporations with revenue over $500,000 in the city of Portland. This means large corporations like Amazon — the same corporations that have benefited from years of Trump tax cuts — are now required to pay to address the impacts of climate change. PCEF puts that money back into Portland’s local economy. That’s why the fund is being celebrated as a blueprint for other cities nationwide.

Every PCEF dollar through 2029 has already been assigned to lifesaving community projects as part of the City Council-approved Climate Investment Plan. Any adjustments to this plan are part of a thorough public process that goes through the committee that oversees the Portland Clean Energy Fund and is approved by the City Council.

PCEF funds are already going toward transformative climate projects that were selected through a competitive grant application process. These PCEF projects are improving the lives of everyday Portlanders by improving air quality in public schools, installing energy-efficient appliances for low-income families to help reduce costs, revitalizing Downtown Portland with affordable housing, planting trees in East Portland, improving sidewalks and buses, and more.

Responsible government spending means PCEF grants are funded in stages, rather than issuing a single large check with no ability to ensure compliance or performance. This guarantees our taxpayer dollars are being spent responsibly, with oversight to ensure accountability to the public. If 1PDX2026 passes, it will rob funding from critical projects that are already approved by the city,  like building middle-income housing in the Broadway Corridor to revitalize downtown, and making significant improvements to 82nd Avenue.

The original PCEF projections were based on the City of Portland Revenue Division’s data. During the pandemic, large corporations reported record profits, leading to increased revenue for PCEF. Profits at these large companies remain high. At a time when the Trump administration is expanding tax loopholes for these same corporations and rolling back environmental protections, Portlanders must defend local action to protect our neighbors from the climate crisis. PCEF ensures that the very same billion-dollar corporations that are accelerating climate change are held accountable. It’s our city’s biggest and best resource to protect vulnerable communities—such as elders and low-income folks—from extreme weather, lower utility bills, and to strengthen our economy through clean energy jobs.