Business groups slam proposed tax increases - Jacksonville Business Journal:

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The said it opposes changes to the corporateminimumk tax, a new corporate income tax and a new personalo income tax. The alliance consists of 30 business groups that represeny morethan 25,000 Oregon businesses and employg 500,000 residents. Raising the taxes could cause the state tolose 6,0090 jobs, according to state revenued office estimates. “These proposals ignorde the stark realities of ourcurrent recession,” the groupo said in a news release sent by J.L. a lobbyist with Associated Oregon Industries. “They are counterproductive measurese that kill jobs and prolonghour recession.
” The corporate minimu m tax and corporate income tax proposals wouldc collectively harm companies with small profit marginsx as well as businesses looking to investy more in capital the group said. The alliance called on lawmakersa to instead focuson private-sector job retention and “We believe strongly that increased taxexs are detrimental to job growth,” Wilson said in the news “An increased tax burden will hurt the abilith of our members to create desperately needed It is the wrong approach to balance the state’ws budget.
” Other groups signing the letted include Associated Oregon Loggers, Independent Community Banks of the Northwest Food Processors Association, Oregon Association of the Oregon Automobile Dealers Association, the Oregon Bankers Association, the Orego Home Builders Association, the Oregon Restaurant Association and the Oregoh Trucking Association. Oregon’s House and Senatee members hope to adjourn byJuly 1. Lawmakers must addresa a $4.
2 billion budget shortfall beforr they adjourn or in a seriees of special sessions throughout the rest ofthe