Pamplin Media Group - Forecast boosts tax proceeds, projects $1 4 billion kicker pamplinmedia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pamplinmedia.com Daily Mail and Mail on Sunday newspapers.
Gov. Kate Brown Today s revenue forecast reaffirms that Oregon s outlook for rapid economic recovery from the COVID-19 pandemic and last year s historic wildfires remains strong. With solid state revenues expected over the next three biennia, coupled with historical federal investments from the American Rescue Plan and the American Jobs Plan, we have a tremendous opportunity for transformational change. Our anticipated state revenues will allow us to fully fund our state agency base budgets; make investments prioritized by the Racial Justice Council; move forward with a $9.3 billion school budget; fully fund the Student Success Act; and ensure no one is kicked off the Oregon Health Plan, among other things. These investments will help Oregonians recover from the COVID-19 pandemic and move Oregon toward a future where equity is realized and all are equal.
John Rosman
Originally published on May 19, 2021 5:06 pm
Oregon economists delivered some major, if familiar, news to lawmakers on Wednesday regarding the state’s financial health. For the third forecast in a row, Oregon’s tax revenues are set to outpace what economists expected mere months ago.
This time, though, the expectations are truly eye-popping.
State economist Mark McMullen told members of the House and Senate revenue committees that the state will see an extra $1.18 billion land in its coffers for the current two-year budget cycle ending June 30 than expected in February, a shift driven largely by surging income tax collections. Economists also expect an additional $1.25 billion for the 2021-23 biennium, and $1.64 billion more from 2023-25.
Oregon s Latest Stunning Forecast Shows Tax Revenues Continue Surging ijpr.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ijpr.org Daily Mail and Mail on Sunday newspapers.