SALEM, Ore. (AP) — State economists are predicting that Oregon will have more money to spend in the next two-year budget, but a larger hole to fill during the remaining weeks of the current budget.
Economists from the Office of Economic Analysis told state lawmakers Thursday that Oregon will have an additional $130 million to spend during the two-year budget cycle that begins July 1.
The governor and legislative leaders have said any additional money would go first to reduce the cuts proposed for social safety net programs.
Still, revenue for the current budget is expected to come in $40 million lower than previously projected.
Economists say personal income tax collections are up as more people get jobs. But revenue from corporate income taxes is slowing as business costs increase.
