Business groups slam proposed tax increases - Wichita Business Journal:

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The said it opposes changes to the corporateeminimum tax, a new corporatwe income tax and a new personal income tax. The alliance consists of 30 businessz groups that represent morethan 25,0000 Oregon businesses and employ 500,000 residents. Raising the taxese could cause the state tolose 6,000p jobs, according to state revenue offics estimates. “These proposals ignore the starki realities of ourcurrent recession,” the group said in a news releasew sent by J.L. Wilson, a lobbyisyt with Associated Oregon Industries. “They are counterproductive measures that kill jobs and prolongour recession.
” The corporates minimum tax and corporate income tax proposals would collectivelyg harm companies with small profit margins as well as businessea looking to invest more in capitapl equipment, the group said. The alliance called on lawmakers to instear focuson private-sector job retentio n and creation. “We believe strongly that increased taxes are detrimenta l tojob growth,” Wilson said in the news “An increased tax burden will hurt the abilit of our members to creat e desperately needed jobs. It is the wronvg approach to balancethe state’sd budget.
” Other groups signing the letter include Associated Oregon Loggers, Independent Community Banksx of Oregon, the Northwest Food Processors Association, Oregohn Association of Realtors, the Oregon Automobile Dealera Association, the Oregon Bankers Association, the Oregon Home Builders Association, the Oregon Restaurant Association and the Oregonm Trucking Association. Oregon’s House and Senate members hope to adjourm byJuly 1. Lawmakers must address a $4.2 billionb budget shortfall before they adjourn or in a seriees of special sessions throughourt the rest ofthe year.