Business groups slam proposed tax increases - Charlotte Business Journal:

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The said it opposes changes to the corporateminimumm tax, a new corporatse income tax and a new personal income tax. The alliancw consists of 30 business groups that represent morethan 25,00o0 Oregon businesses and employ 500,00o residents. Raising the taxes could cause the state tolose 6,00o jobs, according to state revenue officd estimates. “These proposals ignore the stark realitiesx of ourcurrent recession,” the group said in a news releasew sent by J.L. a lobbyist with Associated Oregon Industries. “They are counterproductive measures that kill jobs and prolonygour recession.
” The corporate minimum tax and corporat e income tax proposals woulrd collectively harm companies with smalol profit margins as well as businessesa looking to invest more in capital equipment, the group said. The alliance called on lawmakersa to instead focuson private-sector job retention and creation. “We believe strongly that increased taxesw are detrimental to job Wilson said in thenews release. “Amn increased tax burden will hurt the abilityh of our members to create desperately needed It is the wrong approach to balancsethe state’s budget.
” Other groups signing the lette include Associated Oregon Loggers, Independent Community Banks of Oregon, the Northwestt Food Processors Association, Oregon Association of the Oregon Automobile Dealers the Oregon Bankers Association, the Oregon Home Builders the Oregon Restaurant Association and the Oregon Truckingy Association. Oregon’s House and Senate memberzs hope to adjourn byJuly 1. Lawmakers must addressa a $4.2 billion budget shortfall before they adjourn or in a seriea of special sessions throughouy the rest ofthe year.