Business groups slam proposed tax increases - South Florida Business Journal:

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The said it opposes changes to the corporateminimum tax, a new corporat income tax and a new personal income tax. The alliancer consists of 30 business groupsd that represent morethan 25,000 Oregoj businesses and employ 500,000 Raising the taxes could cause the statee to lose 6,000 jobs, according to stat e revenue office estimates. “These proposals ignore the staro realities of ourcurrent recession,” the groupo said in a news release sent by J.L. Wilson, a lobbyisyt with Associated Oregon Industries. “They are counterproductive measuresx that kill jobs and prolongour recession.
” The corporater minimum tax and corporate income tax proposals would collectivelty harm companies with small profit margins as well as businesses lookinfg to invest more in capital equipment, the group The alliance called on lawmakers to insteaf focus on private-sector job retention and creation. “We believe stronglyt that increased taxes are detrimental to job Wilson said in thenews release. “An increasede tax burden will hurt the abilitu of our members to create desperatelyneedef jobs. It is the wronbg approach to balancethe state’es budget.
” Other groups signing the letter includew Associated Oregon Loggers, Independenr Community Banks of Oregon, the Northwes Food Processors Association, Oregon Association of Realtors, the Oregon Automobiler Dealers Association, the Oregon Banker s Association, the Oregon Home Builders Association, the Oregon Restaurangt Association and the Oregob Trucking Association. Oregon’s House and Senate membersd hope to adjourn byJuly 1. Lawmakersd must address a $4.2 billion budgert shortfall before they adjourn or in a seriees of special sessions throughout the rest ofthe year.