Elections | Local

Oregon Revenue Projection Mostly Flat

Northwest News Network | Nov. 20, 2012 3:10 p.m.

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SALEM, Ore. – Oregon Governor John Kitzhaber now has final revenue numbers to write his next two-year budget proposal. State economists Tuesday released their latest set of projections about Oregon tax and lottery income.

The governor will release his proposed spending plan late next week. He’ll have about $16.5 billion in state revenues that he can divvy up, according to the newest figures. That’s a little higher than the last projection.

State economist Mark McMullen says it’s a good news, bad news situation. On the one hand he says “The fundamentals underlying the economy are very strong.”

On the other: “We’re still looking at a disappointingly lackluster recovery.”

McMullen says the economy should start to pick up by the middle of next year. The relatively flat revenue projection also means lawmakers won’t have to adjust the current spending plan.

Copyright 2012 Northwest News Network

Copyright 2012 Northwest News Network. To see more, visit http://www.nwnewsnetwork.org/.

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