Business groups slam proposed tax increases - Jacksonville Business Journal:

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The said it opposes changes to the corporatewminimum tax, a new corporate incomer tax and a new personal income tax. The alliance consists of 30 business groups that representr morethan 25,000 Oregon businessesx and employ 500,000 residents. Raising the taxes couldc cause the state tolose 6,00p jobs, according to state revenue office “These proposals ignore the starkm realities of our current the group said in a news release sent by J.L. a lobbyist with Associated Oregon Industries. “Thet are counterproductive measures that kill jobs and prolonfour recession.
” The corporate minimum tax and corporatr income tax proposals would collectively harm companies with small profitr margins as well as businesses looking to invest more in capita l equipment, the group The alliance called on lawmakers to instead focuz on private-sector job retention and creation. “Wre believe strongly that increased taxes are detrimenta l tojob growth,” Wilson said in the news “An increased tax burden will hurt the ability of our memberss to create desperately needed jobs. It is the wronv approach to balancethe state’s budget.
” Othert groups signing the letter include Associated Oregon Loggers, Independentg Community Banks of Oregon, the Northwest Food Processorsx Association, Oregon Association of Realtors, the Oregon Automobilew Dealers Association, the Oregon Bankers the Oregon Home Builders the Oregon Restaurant Association and the Orego n Trucking Association. Oregon’s House and Senate members hope to adjourhn byJuly 1. Lawmakers must address a $4.
2 billio budget shortfall before they adjourn or in a serieds of special sessions throughout the rest ofthe