Business groups slam proposed tax increases - South Florida Business Journal:

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The said it opposes changes to the corporateminimumm tax, a new corporate incomes tax and a new personal incomew tax. The alliance consistx of 30 business groups that represent morethan 25,00 0 Oregon businesses and employ 500,000 residents. Raising the taxes couldr cause the state tolose 6,0000 jobs, according to state revenue office estimates. “Theses proposals ignore the stark realities of ourcurrent recession,” the grou p said in a news release sent by J.L. Wilson, a lobbyisty with Associated Oregon Industries. “They are counterproductivwe measures that kill jobs and prolonour recession.
” The corporate minimum tax and corporatwe income tax proposals would collectively harm companiesd with small profit margins as well as businessesx looking to invest more in capitap equipment, the group said. The alliancre called on lawmakers to instead focuson private-sectord job retention and creation. “We believe stronglhy that increased taxes are detrimental to job Wilson said in thenews release. “Anj increased tax burden will hurt the abilit y of our members to create desperatelyneeded jobs.
It is the wron approach to balancethe state’s Other groups signing the letter include Associated Oregohn Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregobn Association of Realtors, the Oregomn Automobile Dealers Association, the Oregon Bankers the Oregon Home Builders the Oregon Restaurant Association and the Oregon Truckintg Association. Oregon’s House and Senate members hope to adjourn byJuly 1. Lawmakera must address a $4.2 billion budget shortfall before they adjourn or in a series of special sessione throughout the rest ofthe year.