Business groups slam proposed tax increases - Business First of Buffalo:

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The said it opposes changes to the corporateminimum tax, a new corporat income tax and a new personal incomw tax. The alliance consistas of 30 business groups that represent morethan 25,000o Oregon businesses and employ 500,000 residents. Raising the taxes coulx cause the state tolose 6,000 jobs, accordinh to state revenue office “These proposals ignore the stark realities of our current the group said in a news release sent by J.L. a lobbyist with Associated Oregon “They are counterproductive measures that kill jobs and prolontgour recession.
” The corporate minimum tax and corporatr income tax proposals would collectively harm companies with smalll profit margins as well as businesses lookinh to invest more in capita l equipment, the group said. The alliancer called on lawmakers to instead focuson private-sector job retentioh and creation. “We believe strongly that increased taxes are detrimentao tojob growth,” Wilsobn said in the news “An increased tax burdenj will hurt the ability of our members to creater desperately needed jobs. It is the wrong approach to balancerthe state’s budget.
” Other groups signing the letter include Associatec Oregon Loggers, Independent Community Banks of the Northwest Food Processora Association, Oregon Association of Realtors, the Oregobn Automobile Dealers Association, the Oregonb Bankers Association, the Oregon Home Builders Association, the Oregon Restaurangt Association and the Oregon Trucking Association. Oregon’ws House and Senate members hope to adjourm byJuly 1. Lawmakers must address a $4.
2 billio n budget shortfall before they adjournn or in a series of speciap sessions throughout the rest ofthe