SALEM, Ore. – Oregon’s latest quarterly revenue forecast indicates the state may be moving away from any near-term recession fears.
According to an executive summary from the state, the local economy is set up for a “soft landing and continued expansion.”
Governor Tina Kotek said, “As inflation continues to slow, this revenue forecast shows that we can anticipate having more predictability and stability for the coming budget cycle. While this is encouraging news, the legislature still has some tough choices to make. We will have to keep focused and stay the course in order to make much-needed investments in Oregonians’ most urgent shared priorities: housing and homelessness, behavioral health, and education.”
The state said that with the unexpected revenue growth and unprecedented balances, the projected Oregon kicker is estimated to be nearly $4 billion, which will be credited to taxpayers when they file their returns next year.
You can read the entire economic forecast report HERE.
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