Corporate business plan

Oregon Business Association (OBA) recognizes that given the historic nature of the budget crisis, a combination of spending cuts and revenue increases will be necessary in order to protect critical state services like education, health care and public safety, as well as targeted initiatives such as workforce development and the agenda that creates new economic opportunities.

The only way out of this economic crisis is through growth and job
creation. With unemployment reaching 12.1 percent, the second-highest
level in the nation, it is critical that any increase to business taxes
be done in a way that beset protects the state’s economy and enables
job growth. We cannot tax our way out of this recession, nor can we
simply cut services. A balanced approach is the most responsible path.
OBA has developed a revenue package designed with a vision toward the
continue health of the state, say OBA officials.
   
Included in
their plan is a set of "Economic Principles" designed to protect and
create jobs and an outline of current and proposed contributions
reflecting the business community’s commitment to building a strong
future for all Oregonians.
   
At the core of the princples is
OBA’s strong commitment to job retention and creation, and an emphasis
on transparency and shared sacrifices. All of the revenue discussions
in Salem need to be considered in the context of two critical
questions: Will these ideas grow jobs and the economy, and will these
ideas exacerbate the recession? At the heart of their economic
principles is the focus on growing the state’s economy, which is the
best way to provide long-term, stable and adequate funding of state
services.
   
The business community recognizes that there needs
to be a combination of revenue increases and spending cuts in order to
address the budget shortfall. OBA leaders believe that there is a more
thoughtful, less harmful way to raise revenue, that doesn’t exacerbate
the recession.
   
OBA supports a reasonable increase in the
corporate minimum, a doubling of corporate filing fees and a temporary
surcharge on the corporate tax rate. This ambitious revenue packages
raises approximately $340 million.
   
The proposal also
recommends tapping the state Rainy Day Fund which was created by an
agreement with the business community to put aside the 2007 Corporate
Kicker. .In 2007, the business community led by OBA stepped up and did
the right thing for the economy by working with the legislature on
directing the corporate kicker into the Rainy Day fund.
 

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