Business groups slam proposed tax increases - Austin Business Journal:

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The said it opposes changews to the corporateminimum tax, a new corporatew income tax and a new personal incomer tax. The alliance consists of 30 business group that represent morethan 25,00o0 Oregon businesses and employ 500,000 Raising the taxes could cause the statr to lose 6,000 jobs, according to state revenur office estimates. “These proposals ignore the starm realities of ourcurrent recession,” the group said in a news releasde sent by J.L. Wilson, a lobbyist with Associate Oregon Industries. “They are counterproductive measurex that kill jobs and prolongour recession.
” The corporate minimum tax and corporatd income tax proposals would collectively harm companies with small profitf margins as well as businesses lookinhg to invest more in capital the group said. The alliancwe called on lawmakers to insteaed focuson private-sector job retention and creation. “W believe strongly that increasedd taxes are detrimental tojob growth,” Wilson said in the news release. “An increased tax burdenb will hurt the ability of our members to createe desperatelyneeded jobs. It is the wronfg approach to balancethe state’s budget.
” Other groupsx signing the letter include Associatedd Oregon Loggers, Independent Community Banks of Oregon, the Northwest Food Processorsz Association, Oregon Association of Realtors, the Oregon Automobile Dealers Association, the Oregon Bankerzs Association, the Oregon Home Builders Association, the Oregob Restaurant Association and the Oregon Trucking Association. Oregon’x House and Senate members hope to adjourn byJuly 1. Lawmakeres must address a $4.
2 billion budgetr shortfall before they adjourn or in a seriesd of special sessions throughout the rest ofthe