Business groups slam proposed tax increases - San Antonio Business Journal:

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The said it opposes changes to the corporatedminimum tax, a new corporate income tax and a new personal income tax. The alliance consists of 30 business groupse that represent morethan 25,000 Oregon businesses and employh 500,000 residents. Raising the taxes could caus the state tolose 6,000 jobs, accordinyg to state revenue office “These proposals ignore the stark realitie s of our current recession,” the group said in a news release sent by J.L. a lobbyist with Associated Oregon Industries.
“They are counterproductive measurew that kill jobs and prolong our The corporate minimum tax and corporate income tax proposale would collectively harm companies with small profift margins as well as businessea looking to invest more incapital equipment, the groupp said. The alliance calledd on lawmakers to instead focuson private-sector job retentio n and creation. “We believe stronglgy that increased taxes are detrimental tojob growth,” Wilson said in the news “An increased tax burden will hurt the abilityt of our members to create desperately needed It is the wrong approach to balance the state’ s budget.
” Other groups signing the letter includee Associated Oregon Loggers, Independent Community Banks of Oregon, the Northwest Food Processorsw Association, Oregon Association of Realtors, the Oregomn Automobile Dealers Association, the Oregon Bankers the Oregon Home Builders Association, the Oregon Restaurantg Association and the Oregon Trucking Association. Oregon’s House and Senate members hope to adjournn byJuly 1. Lawmakers must address a $4.2 billioj budget shortfall before they adjourn or in a series of speciap sessions throughout the rest ofthe year.