PORTLAND, Ore. (AP) – Following another sunny revenue forecast in Oregon – fueled by a surge in corporate and income tax revenues – economists say state lawmakers have an additional $979 million to spend this legislative session.
The forecast released Wednesday comes as state lawmakers are a week into a one-month legislative session.
Prior to lawmakers returning to the Capitol, some said – even without the forecast – they expected to spend roughly $2 billion this session.
The growth in revenue means a larger budget to work with during the short legislative session.
But how the money is used remains up for debate. Last year, following good revenue projections and billions in federal aid, lawmakers passed a $25.5 billion General Fund budget for the 2021-23 biennium.