Business groups slam proposed tax increases - Portland Business Journal:

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The said it opposes changes to the corporatrminimum tax, a new corporatew income tax and a new personalo income tax. The alliance consistw of 30 business groups that represent morethan 25,00 0 Oregon businesses and employ 500,000 residents. Raising the taxesd could cause the state tolose 6,000 according to state revenue office “These proposals ignore the stark realitiezs of our current recession,” the group said in a news releases sent by J.L. Wilson, a lobbyist with Associated Oregoh Industries. “They are counterproductive measures that kill jobs and prolonfgour recession.
” The corporate minimum tax and corporate incomre tax proposals would collectiveluy harm companies with small profit margins as well as businesse s looking to invest more in capital equipment, the groupp said. The alliance called on lawmakers to instead focusxon private-sector job retention and “We believe strongly that increasede taxes are detrimental to job growth,” Wilsonn said in the news “An increased tax burden will hurt the ability of our members to creates desperately needed jobs. It is the wrong approach to balancwethe state’s budget.
” Other groupa signing the letter include Associatec Oregon Loggers, Independent Communitu Banks of Oregon, the Northwest Food Processors Oregon Association of Realtors, the Oregojn Automobile Dealers Association, the Oregon Bankers Association, the Oregon Home Builderas Association, the Oregon Restaurant Association and the Oregonn Trucking Association. Oregon’s House and Senate membere hope to adjourn byJuly 1. Lawmakers must addressa a $4.
2 billion budget shortfall before they adjourn or in a seriexs of special sessions throughoutr the rest ofthe