Business groups slam proposed tax increases - Atlanta Business Chronicle:

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The said it opposes changes to the corporatreminimum tax, a new corporatee income tax and a new personal incomd tax. The alliance consists of 30 businesw groups that represent morethan 25,00o Oregon businesses and employ 500,000 residents. Raising the taxesd could cause the state tolose 6,000 according to state revenu e office estimates. “These proposals ignord the stark realities of our current the group said in a news release sentby J.L. a lobbyist with Associated Oregon “They are counterproductive measures that kill jobs and prolon gour recession.
” The corporate minimum tax and corporat e income tax proposals would collectively harm companiesd with small profit margins as well as businesseas looking to invest more in capital equipment, the grouop said. The alliance called on lawmakerse to instead focuson private-sectotr job retention and creation. “We believew strongly that increased taxes are detrimental to job Wilson said in thenews release. “An increasecd tax burden will hurt the ability of our memberx to create desperatelyneedex jobs.
It is the wrong approachb to balancethe state’s Other groups signing the letter include Associated Oregon Loggers, Independeng Community Banks of Oregon, the Northwesty Food Processors Association, Oregon Association of Realtors, the Oregon Automobile Dealers Association, the Oregonj Bankers Association, the Oregon Home Builders Association, the Oregon Restaurant Association and the Oregon Trucking Association. Oregon’sz House and Senate members hope to adjourh byJuly 1. Lawmakerzs must address a $4.
2 billion budget shortfall before they adjourn or in a series of specia l sessions throughout the rest ofthe