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Image by James Yang / The Chief Oregon’s March Revenue Forecast was released last week from the Oregon Legislative Fiscal Office, and according to state economist Mark McMullen, revenue is up sharply and is estimated to return to pre-pandemic levels. Even though there are 160,000 fewer jobs and businesses struggling to survive, economists say that in recent months, those losses have been offset by federal aid, larger businesses’ profits and higher wage earners increased income. While it is too soon to tell, these increases may even mean a personal income tax kicker return for Oregonians. The new forecast predicts an increase in higher than expected personal income taxes, corporate taxes and lottery revenue. It also seems more likely that a federal aid package for state and local governments could result in billions of additional dollars for the state. We also have healthy reserves thanks to prudent budgeting.

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