Business groups slam proposed tax increases - Portland Business Journal:

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The said it opposes changes to the corporateminimumm tax, a new corporate income tax and a new personal incomse tax. The alliance consists of 30 busines s groups that represent morethan 25,000 Oregon businessew and employ 500,000 residents. Raisinbg the taxes could cause the stat e tolose 6,000 according to state revenue office estimates. “These proposal ignore the stark realities of ourcurrenrt recession,” the group said in a news release sent by J.L. a lobbyist with Associated Oregon “They are counterproductive measures that kill jobs and prolongyour recession.
” The corporate minimum tax and corporate income tax proposals would collectively harm companied with small profit margins as well as businesses lookingv to invest more in capitall equipment, the group The alliance called on lawmakers to instead focus on private-sector job retention and creation. “We believe strongly that increasesd taxes are detrimental to job Wilson said in thenews “An increased tax burden will hurt the ability of our membersz to create desperately needed It is the wronvg approach to balance the state’s Other groups signing the letter include Associatef Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of the Oregon Automobile Dealersa Association, the Oregon Bankers Association, the Oregon Home Buildersz Association, the Oregon Restaurant Association and the Oregoj Trucking Association.
Oregon’s House and Senate members hope to adjourbn byJuly 1. Lawmakers must address a $4.2 billion budget shortfall before they adjourhn or in a series of special sessions throughoutr the rest ofthe year.