Business groups slam proposed tax increases - Los Angeles Business from bizjournals:

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The said it opposex changes to the corporateminimum tax, a new corporate income tax and a new personak income tax. The alliance consists of 30 business groups that representr morethan 25,000 Oregon businesses and employ 500,000 residents. Raisinv the taxes could causd the state tolose 6,000 jobs, according to statde revenue office estimates. “These proposalse ignore the stark realities of ourcurrentg recession,” the group said in a news release sent by J.L. a lobbyist with Associated Oregon Industries.
“They are counterproductive measures that kill jobs and prolong our The corporate minimum tax and corporat e income tax proposals would collectively harm companie s with small profit margins as well as businesses looking to invesft more incapital equipment, the group said. The alliance called on lawmakers to instead focuseon private-sector job retentionj and creation. “We believe strongly that increased taxeds are detrimental tojob growth,” Wilson said in the news “An increased tax burden will hurt the abilitg of our members to create desperately needed It is the wrong approach to balance the state’s budget.
” Other groups signing the letterf include Associated Oregon Loggers, Independent Community Banks of Oregon, the Northwesgt Food Processors Association, Oregon Association of Realtors, the Oregon Automobile Dealers Association, the Oregon Bankers Association, the Oregon Home Builderas Association, the Oregon Restaurantt Association and the Oregon Truckinv Association. Oregon’s House and Senate membera hope to adjourn byJuly 1. Lawmakers must addresd a $4.2 billion budget shortfall before they adjourb or in a series of special sessionse throughout the rest ofthe year.