SALEM, Ore. – The State of Oregon released its revenue forecast Wednesday and it’s bringing mostly good news. The state has around $900 million extra revenue.
Lawmakers will prioritize what to spend the surplus on.
The revenue forecast shows the biggest economic challenge is still the overloaded supply chain. However, the document reporting as the labor market continues its strong recovery, the burden on the supply chain should be lessened.
The forecast is also anticipating continued rises in inflation.
Right now, state economists project a personal income tax kicker credit of nearly $1 billion for 2024’s tax season.
For more details about the forecast, visit https://oregoneconomicanalysis.com/
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