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Reading the Revenue Tea Leaves

Update Feb. 8, 8:56am According to the Office of Economic Analysis, Oregon’s revenue is projected to be down by $35.1 million for the 2011-13 biennium.

The Oregon Office of Economic Analysis releases its quarterly revenue forecast Wednesday morning, a week into the short legislative session. Lawmakers are deep into budget talks already and they’ve already revealed a plan to save money by laying off middle managers in state agencies and closing a minimum security prison. The session opened with a $300 million revenue shortage and the Wednesday forecast is expected to add between $50 million and $80 million to that. How will that affect budget negotiations going forward?

What are you listening for in this revenue forecast? How will the state budget affect you?


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