Business groups slam proposed tax increases - Minneapolis / St. Paul Business Journal:

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The said it opposes changes to the corporateeminimum tax, a new corporate incomw tax and a new personalk income tax. The alliance consistd of 30 business groups that represenf morethan 25,000 Oregon businesses and emplou 500,000 residents. Raising the taxex could cause the state tolose 6,000 jobs, according to state revenue office estimates. “These proposals ignore the stark realities of ourcurrenrt recession,” the group said in a news release sent by J.L. a lobbyist with Associated Oregon Industries. “They are counterproductiv measures that kill jobs and prolongour recession.
” The corporatre minimum tax and corporate income tax proposal would collectively harm companies with small profit margines as well as businesses looking to invest more in capitakl equipment, the group said. The alliance called on lawmakerd to instead focuson private-sector job retention and “We believe strongly that increased taxes are detrimental to job Wilson said in the news release. “An increasexd tax burden will hurt the ability of our members to createe desperatelyneeded jobs. It is the wrong approach to balancethe state’sa budget.
” Other groups signing the letterf include Associated Oregon Loggers, Independent Communitgy Banks of Oregon, the Northwest Food Processorsa Association, Oregon Association of Realtors, the Oregon Automobile Dealers Association, the Oregon Bankers the Oregon Home Builders Association, the Oregonj Restaurant Association and the Oregonb Trucking Association. Oregon’s House and Senate members hope to adjourn byJuly 1. Lawmakerzs must address a $4.2 billion budgert shortfall before they adjourh or in a series of specialo sessions throughout the rest ofthe year.