Associated Oregon Industries
Oregon’s Largests Business Lobby
Raising taxes on Oregon businesses in an economic recession and during a period of record unemployment makes no sense, was the message conveyed this week to the House Revenue Committee by AOI and other business community representatives. The committee held a public hearing on four bills (HB 2119, HB 2913, HB 3049 and HB 3405) that increase the current $10 corporate minimum tax. The proposals raise between $21 million and $120 million per year. No action was taken on the bills, but behind-closed-door discussions are apparently being held to determine the structure and revenue impact of a corporate minimum tax increase measure.
AOI, in addition to highlighting the state’s current unemployment data and the negative impact a tax increase on businesses would have on Oregon’s ability to recover from its current economic doldrums, told the committee that the current corporate minimum tax has always been intended to be a filing or administrative fee for processing corporate tax returns with no tax liability. It is not and should not be used as a proxy for a privilege-of-doing business levy.
AOI’s testimony concluded by urging the committee to stop seeking ways to make businesses pay for their presence and rather to recognize and appreciate how much businesses’ presence in Oregon pays in terms of jobs, family incomes, tax revenue and community stability.