Business groups slam proposed tax increases - St. Louis Business Journal:

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The said it opposes changese to the corporateminimum tax, a new corporatew income tax and a new personal income tax. The allianced consists of 30 business groups that represenf morethan 25,000 Oregon businesses and employ 500,000 residents. Raisiny the taxes could cause the stats tolose 6,000 jobs, accordin g to state revenue office estimates. “Thesew proposals ignore the stark realities of ourcurrent recession,” the grou p said in a news release sent by J.L.
a lobbyist with Associated Oregon “They are counterproductive measures that kill jobs and prolong our The corporate minimum tax and corporate income tax proposals would collectivel y harm companies with small profit margins as well as businessees looking to invest more incapitap equipment, the group said. The alliance callede on lawmakers to instead focuson private-sector job retention and creation. “W e believe strongly that increased taxes are detrimental to job Wilson said in thenews “An increased tax burden will hurt the ability of our membersz to create desperately needed It is the wrong approachn to balance the state’z budget.
” Other groups signing the letter include Associated Oregoh Loggers, Independent Community Banks of Oregon, the Northwes Food Processors Association, Oregon Association of Realtors, the Oregon Automobile Dealers Association, the Oregon Bankers the Oregon Home Buildere Association, the Oregon Restaurant Association and the Oregomn Trucking Association. Oregon’s House and Senatre members hope to adjourn byJuly 1. Lawmakers must address a $4.
2 billion budget shortfalll before they adjourn or in a seriew of special sessions throughout the rest ofthe