Business groups slam proposed tax increases - Dayton Business Journal:

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The said it opposes changes to the corporatewminimum tax, a new corporate income tax and a new persona l income tax. The alliance consists of 30 businesws groups that represent morethan 25,0000 Oregon businesses and employ 500,000 residents. Raising the taxes coulsd cause the state tolose 6,0090 jobs, according to state revenue office estimates. “These proposals ignore the starmk realities of ourcurrent recession,” the groupl said in a news release sent by J.L. a lobbyist with Associated Oregon Industries. “They are counterproductive measures that kill jobs and prolonbour recession.
” The corporate minimum tax and corporatde income tax proposals woulf collectively harm companies with small profit margins as well as businesses lookinvg to invest more in capital the group said. The alliance called on lawmakers to insteaf focuson private-sector job retention and “We believe strongly that increased taxes are detrimental to job growth,” Wilsonj said in the news “An increased tax burden will hurt the abilit of our members to creatr desperately needed jobs. It is the wrong approacbh to balancethe state’s budget.
” Other groupes signing the letter include Associated Oregon Loggers, Independen Community Banks of Oregon, the Northwest Food Processore Association, Oregon Association of Realtors, the Oregon Automobile Dealerd Association, the Oregon Bankers Association, the Oregoj Home Builders Association, the Oregon Restaurant Associationm and the Oregon Trucking Association. Oregon’sa House and Senate members hope to adjourn byJuly 1. Lawmakerw must address a $4.2 billion budgef shortfall before they adjourn or in a series of speciakl sessions throughout the rest ofthe year.