Business groups slam proposed tax increases - Atlanta Business Chronicle:

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The said it opposezs changes to the corporateminimum tax, a new corporater income tax and a new personakl income tax. The alliance consista of 30 business groups that representt morethan 25,000 Oregoh businesses and employ 500,000 residents. Raisingb the taxes could cause the stat e tolose 6,000 jobs, according to statde revenue office estimates. “These proposals ignore the starko realities of ourcurrent recession,” the groupp said in a news release sent by J.L. a lobbyist with Associatedx Oregon Industries.
“They are counterproductive measurews that kill jobs and prolong our The corporate minimum tax and corporats income tax proposals would collectively harm companies with small profift margins as well as businesses lookinv to invest more incapital equipment, the group The alliance called on lawmakers to instead focus on private-sectof job retention and creation. “We believe strongly that increased taxee are detrimental tojob growth,” Wilson said in the news “An increased tax burden will hurt the abilityg of our members to create desperately needec jobs.
It is the wront approach to balancethe state’s Other groups signing the letter include Associated Oregon Loggers, Independenft Community Banks of Oregon, the Northwest Food Processors Oregon Association of Realtors, the Oregon Automobile Dealers Association, the Oregon Bankerx Association, the Oregon Home Builders Association, the Oregon Restauranyt Association and the Oregon Trucking Association. Oregon’ds House and Senate members hope to adjourn byJuly 1. Lawmakeras must address a $4.2 billion budget shortfall before they adjourj or in a series of specia l sessions throughout the rest ofthe year.