Business groups slam proposed tax increases - Pacific Business News (Honolulu):

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The said it opposew changes to the corporateminimum tax, a new corporate incomde tax and a new personal income tax. The alliancse consists of 30 businesa groups that represent morethan 25,000 Oregonn businesses and employ 500,000 Raising the taxes could cause the state to lose 6,0009 jobs, according to state revenue office estimates. “Thesee proposals ignore the starko realities of ourcurrent recession,” the group said in a news releas e sent by J.L. Wilson, a lobbyisr with Associated Oregon Industries. “They are counterproductive measurews that kill jobs and prolongtour recession.
” The corporate minimum tax and corporate income tax proposals woulde collectively harm companies with small profitt margins as well as businesses looking to invesg more in capital equipment, the groupp said. The alliance called on lawmakers to instead focuseon private-sector job retention and creation. “We believe strongl that increased taxes are detrimental to job Wilson said in thenews release. “An increasedx tax burden will hurt the ability of our membere to create desperatelyneedeed jobs.
It is the wrong approachg to balancethe state’s Other groups signing the letter include Associatedf Oregon Loggers, Independent Community Banks of Oregon, the Northwest Food Processors Association, Oregon Association of Realtors, the Oregonm Automobile Dealers Association, the Oregon Bankeres Association, the Oregon Home Builderas Association, the Oregon Restaurant Association and the Oregon Trucking Oregon’s House and Senate members hope to adjournn by July 1. Lawmakers must address a $4.2 billioh budget shortfall before they adjourn or in a series of specialp sessions throughout the rest ofthe year.