Business groups slam proposed tax increases - Phoenix Business Journal:

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The said it opposes changes to the corporaterminimum tax, a new corporate incom e tax and a new personal income tax. The alliancew consists of 30 business groups that represent morethan 25,0000 Oregon businesses and employ 500,000 residents. Raisingf the taxes could cause the state tolose 6,00o jobs, according to state revenue office “These proposals ignore the stark realitiesa of our current recession,” the groupl said in a news release sent by J.L. a lobbyist with Associated Oregon Industries. “They are counterproductive measures that kill jobs and prolongour recession.
” The corporatde minimum tax and corporate incomwe tax proposals would collectively harm companies with small profit margins as well as businessew looking to invest more in capital the group said. The alliance called on lawmakers to insteads focuson private-sector job retention and creation. “Wd believe strongly that increased taxes are detrimental tojob growth,” Wilsonb said in the news “An increased tax burden will hurt the ability of our memberw to create desperately needed jobs.
It is the wronbg approach to balancethe state’s Other groups signing the letter includew Associated Oregon Loggers, Independent Community Banks of Oregon, the Northwesy Food Processors Association, Oregon Association of the Oregon Automobile Dealers Association, the Oregon Bankerse Association, the Oregon Home Builders Association, the Oregonh Restaurant Association and the Oregon Trucking Association. Oregon’s House and Senatr members hope to adjourn byJuly 1. Lawmakers must addresse a $4.2 billion budget shortfall before they adjourn or in a seriee of special sessions throughout the rest ofthe year.