Business groups slam proposed tax increases - San Antonio Business Journal:

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The said it opposes changes to the corporatedminimum tax, a new corporate income tax and a new personapl income tax. The alliance consists of 30 business groups that representf morethan 25,000 Oregon businesses and employy 500,000 residents. Raising the taxes could cause the statwe tolose 6,000 jobs, according to statr revenue office estimates. “These proposals ignore the stark realitiezs of our current the group said in a news releasre sentby J.L. Wilson, a lobbyist with Associatedr Oregon Industries. “They are counterproductive measures that kill jobs and prolonfour recession.
” The corporate minimum tax and corporate incomse tax proposals would collectively harm companieds with small profit margins as well as businessesd looking to invest more in capitakl equipment, the group said. The alliance callerd on lawmakers to instead focuson private-sector job retentionn and creation. “We believe strongly that increased taxes are detrimentalk tojob growth,” Wilson said in the news “An increased tax burdenh will hurt the ability of our membersd to create desperately needed jobs. It is the wrong approach to balancethe state’xs budget.
” Other groups signing the letter include Associatecd Oregon Loggers, Independent Community Bankz of Oregon, the Northwest Food Processores Association, Oregon Association of Realtors, the Oregobn Automobile Dealers Association, the Oregonj Bankers Association, the Oregon Home Builders Association, the Oregon Restaurany Association and the Oregon Truckinb Association. Oregon’s House and Senate members hope to adjourbn byJuly 1. Lawmakers must address a $4.
2 billio budget shortfall before they adjourn or in a series of special sessions throughout the rest ofthe