Business groups slam proposed tax increases - Washington Business Journal:

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The said it opposes changes to the corporateminimum tax, a new corporat e income tax and a new personalo income tax. The alliance consists of 30 business groupe that represent morethan 25,000 Oregon businessees and employ 500,000 Raising the taxes could cause the state to lose 6,0009 jobs, according to state revenue office estimates. “These proposalz ignore the stark realities of ourcurrentf recession,” the group said in a news releasre sent by J.L. Wilson, a lobbyisy with Associated Oregon Industries. “They are counterproductiv e measures that kill jobs and prolongour recession.
” The corporate minimum tax and corporates income tax proposals would collectivelyu harm companies with small profit margins as well as businessesw looking to invest more in capita l equipment, the group said. The alliance called on lawmakersz to instead focuson private-sector job retention and creation. “Ww believe strongly that increased taxes are detrimental tojob growth,” Wilsobn said in the news release. “An increased tax burden will hurt the ability of our memberss to create desperately needed It is the wrong approacuh to balancethe state’s budget.
” Other groups signing the letted include Associated Oregon Loggers, Independent Communituy Banks of Oregon, the Northwest Food Processore Association, Oregon Association of Realtors, the Oregon Automobile Dealerd Association, the Oregon Bankers Association, the Oregon Home Buildersd Association, the Oregon Restaurant Association and the Oregon Truckinbg Association. Oregon’s House and Senate members hope to adjourbn byJuly 1. Lawmakers must address a $4.2 billion budgeg shortfall before they adjourn or in a series of specialp sessions throughout the rest ofthe year.