Oregon Revenues Down, Slightly

Feb 8, 2012

SALEM, Ore. – Oregon lawmakers have a clearer picture of what they'll need to do to bring the current spending plan back into balance. State economists said Wednesday that they expect revenues to fall another $35 million. As Salem Correspondent Chris Lehman reports, that's not considered a very big drop.

That’s because projected revenues had already fallen more than $300 million since lawmakers created the two-year spending plan last June. Budget-writers last week released a rebalance proposal for lawmakers to consider during this February session. The relatively flat updated forecast means that few additional cuts will be necessary.

Ginny Burdick: "This was actually good news, compared to what it could have been."

Democratic Senator Ginny Burdick was one of many lawmakers to breathe a sigh of relief. Republicans like Senator Chris Telfer were more cautious.

Chris Telfer: "Before we pull out the cakes and the balloons and celebrate, I gotta remind everybody that the cost of providing services to Oregonians through the state is going up."

State economists said despite gains in the job market, it could be another two years before Oregon has as many jobs as it did before the recession hit.

Copyright 2012 Northwest News Network