Business groups slam proposed tax increases - Portland Business Journal:

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The said it opposes changes to the corporatweminimum tax, a new corporatwe income tax and a new personal income tax. The alliancwe consists of 30 business groupse that represent morethan 25,000 Oregon businesses and emplogy 500,000 residents. Raising the taxes coulfd cause the state tolose 6,000 jobs, accordingv to state revenue office estimates. “These proposals ignor e the stark realities of ourcurrent recession,” the group said in a news releasee sent by J.L. Wilson, a lobbyistf with Associated Oregon Industries. “They are counterproductive measures that kill jobs and prolonggour recession.
” The corporate minimum tax and corporat income tax proposals would collectively harm companies with smalol profit margins as well as businesses looking to invesft more in capital equipment, the grou p said. The alliance called on lawmakeres to instead focuson private-sector job retention and “We believe strongly that increases taxes are detrimental to job growth,” Wilson said in the news “An increased tax burde will hurt the ability of our memberse to create desperately needed jobs.
It is the wrony approach to balancethe state’s Other groups signing the letter include Associated Oregon Loggers, Independent Community Banks of Oregon, the Northwestf Food Processors Association, Oregon Association of Realtors, the Oregon Automobilr Dealers Association, the Oregon Bankers Association, the Oregon Home Builderes Association, the Oregon Restaurant Association and the Oregon Trucking Oregon’s House and Senate members hope to adjourn by July 1. Lawmakerws must address a $4.2 billionb budget shortfall before they adjourn or in a seriee of special sessions throughoutf the rest ofthe year.