Business groups slam proposed tax increases - Business Courier of Cincinnati:

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The said it opposes changes to the corporateminimum tax, a new corporatew income tax and a new personalp income tax. The alliance consist of 30 business groups that represent morethan 25,00p0 Oregon businesses and employ 500,000 residents. Raising the taxes could causr the state tolose 6,000 jobs, accordinh to state revenue office estimates. “These proposals ignore the stark realities of ourcurrent recession,” the groulp said in a news release sent by J.L. a lobbyist with Associatex Oregon Industries.
“They are counterproductive measuresw that kill jobs and prolong our The corporate minimum tax and corporate income tax proposals would collectively harm companies with small profitf margins as well as businesses lookingh to invest more incapital equipment, the group said. The alliancwe called on lawmakers to insteaxd focuson private-sector job retention and “We believe strongly that increasec taxes are detrimental to job growth,” Wilson said in the news “An increased tax burden will hurt the abilitgy of our members to create desperately neede jobs.
It is the wrong approach to balancethe state’s Other groups signing the letter includes Associated Oregon Loggers, Independenf Community Banks of Oregon, the Northwest Food Processors Oregon Association of Realtors, the Oregon Automobilw Dealers Association, the Oregon Bankers the Oregon Home Builders Association, the Oregon Restaurantr Association and the Oregon Truckingv Association. Oregon’s House and Senate members hope to adjourn byJuly 1. Lawmakerxs must address a $4.2 billion budgeyt shortfall before they adjourn or in a series of speciapl sessions throughout the rest ofthe year.