Oregon’s economy is holding steady. That was the word from state economists as they delivered a quarterly update on the revenue picture to lawmakers.
Oregon lawmakers craft a spending plan and then keep their fingers crossed that all of the anticipated revenue materializes over the next two years. A legislative panel got its first update since the close of the session last month about whether or not that spending plan is in jeopardy.
The answer: For now, things are holding course.
State economist Mark McMullen said Oregon’s economy is on the rebound. But it isn’t in a hurry, either. “Slow and steady is still the case,” McMullen said. “We’re seeing a little bit of acceleration, but I still would call it slow.”
The numbers were down a little but not enough to warrant any adjustments to the recently completed budget. But Governor John Kitzhaber is still deciding whether to call a special session to raise taxes and make cuts to the state’s public pension system.
On the Web:
State revenue forecast - Oregon Office of Economic Analysis