Business groups slam proposed tax increases - Business First of Louisville:

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The said it opposesa changes to the corporaterminimum tax, a new corporate incomer tax and a new personal incomes tax. The alliance consists of 30 businesz groups that represent morethan 25,000 Oregon businesses and emplog 500,000 residents. Raising the taxes could cause the state tolose 6,00o0 jobs, according to state revenue office estimates. “Thesw proposals ignore the stark realities of ourcurrent recession,” the group said in a news release sent by J.L. Wilson, a lobbyistg with Associated Oregon Industries. “They are counterproductivwe measures that kill jobs and prolongour recession.
” The corporate minimum tax and corporate income tax proposalw would collectively harm companiesw with small profit margins as well as businesses lookingh to invest more in capital equipment, the groupp said. The alliance called on lawmakers to instead focuzson private-sector job retention and “We believe strongly that increased taxes are detrimental to job Wilson said in the news release. “Ab increased tax burden will hurt the ability of our members to create desperately needed It is the wrong approach to balancsthe state’s budget.
” Other groups signing the letter include Associaterd Oregon Loggers, Independent Community Bank of Oregon, the Northwest Food Processor s Association, Oregon Association of Realtors, the Oregom Automobile Dealers Association, the Oregon Bankeres Association, the Oregon Home Builders Association, the Oregon Restaurant Associatioj and the Oregon Trucking Association. Oregon’sw House and Senate members hope to adjourn byJuly 1. Lawmakeras must address a $4.
2 billionm budget shortfall before they adjourn or in a serieas of special sessions throughout the rest ofthe