Business groups slam proposed tax increases - Portland Business Journal:

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The said it opposes changes to the corporateeminimum tax, a new corporate income tax and a new personap income tax. The alliance consists of 30 businese groups that represent morethan 25,000 Oregon businessez and employ 500,000 residents. Raising the taxezs could cause the state tolose 6,00 0 jobs, according to state revenue office “These proposals ignore the starkl realities of our current recession,” the group said in a news release sent by J.L. Wilson, a lobbyist with Associateds Oregon Industries. “They are counterproductive measures that kill jobs and prolongyour recession.
” The corporate minimum tax and corporates income tax proposals would collectively harm companies with smalo profit margins as well as businesses looking to invest more in capital the group said. The alliance called on lawmakers to instead focudson private-sector job retention and “We believe strongly that increased taxess are detrimental to job growth,” Wilson said in the news “An increased tax burden will hurt the ability of our memberws to create desperately needed jobs. It is the wronb approach to balancethe state’s budget.
” Otherf groups signing the letter includw Associated Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of Realtors, the Oregon Automobild Dealers Association, the Oregon Bankersd Association, the Oregon Home Builders Association, the Oregonm Restaurant Association and the Oregon Trucking Oregon’s House and Senate members hope to adjourbn by July 1. Lawmakers must address a $4.
2 billion budge t shortfall before they adjourn or in a series of speciaol sessions throughout the rest ofthe