03/25/2010 05:12 am ET Updated May 25, 2011

Bill Ritter's Tax Plans Drawing Fire From Business Community

Four leading business groups Friday came out against significant portions of Gov. Bill Ritter's proposal to target tax exemptions and credits.

Ritter has proposed eliminating or suspending 13 tax credits and exemptions, a move that would generate an estimated $131.8 million for the 2010-11 budget year that begins in July, which is facing at least a $1.3 billion deficit. But Ritter this week proposed fast-tracking the elimination of seven tax exemptions to generate $18 million for the current budget year ending in June.

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