US EditionOregon’s economic outlook sours, leaving state lawmakers with millions less to spend than previously expected
- Oregon lawmakers received a revenue forecast on Wednesday showing a $755 million shortfall for the next two-year budget starting in July 2025.
- This shortfall results mainly from lower projected personal income taxes and slower economic growth attributed to tariff uncertainties and national sluggish growth.
- Governor Kotek proposed a budget including over $800 million for housing, $246 million for behavioral health, and $200 million for education amid concerns about reduced revenues.
- Oregon's chief economist Carl Riccadonna characterized the economic outlook as an extended phase of very slow growth, with a heightened recession risk of 25% over the coming year.
- Lawmakers must prioritize spending carefully in a challenging budget environment as revenue declines limit expansion, but officials pledge to maintain critical investments in social services.
17 Articles
17 Articles
Federal chaos leaves Oregon’s economic outlook sluggish, uncertain, short millions - Malheur Enterprise
Uncertainty from President Donald Trump’s tariffs have thrown a wrench in state revenues previously expected to grow by hundreds of millions of dollars, state economists report. Forecasted growth in the national and state economy has deteriorated in the last few months, leaving Oregon lawmakers to craft a two-year state budget with nearly $756 million less than they anticipated, according to the latest revenue forecast from the state’s Office of…
Illinois Cuts Revenue Outlook on Economic, Federal-Funding Woes
Illinois slashed its revenue forecast for the coming fiscal year by about $500 million, citing questions around the economic outlook and policies of President Donald Trump that could reduce federal funding.
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