Economists downgrade Ore. revenue projections
Wednesday, November 16, 2011
SALEM, Ore. (AP) -- State economists are projecting that Oregon will take in $300 million less than was estimated when lawmakers wrote the current two-year budget.
That's according to the quarterly revenue forecast released on Thursday. The projection is $100 million lower than it was three months ago.
Lawmakers built significant reserves into the budget to guard against a downturn in the economy, and the lower estimates won't require immediate cuts to schools, health care or other state services.
Gov. John Kitzhaber says in a statement that state agencies have been told to save money with a partial hiring freeze and a reduction in travel and training costs. He says they also shouldn't plan on getting additional money during the current two-year budget,