Print this ArticlePrint this Article Email this ArticleEmail this Article
Text Size: A | A | A

Economists predict dip in state revenue

 Posted: 2:45 PM August 28, 2013

SALEM — Economists are projecting a slight decrease in state revenue during the two-year budget cycle that began last month.

Oregon's Office of Economic Analysis said Wednesday it expects the general fund to collect about $40 million less than the previous estimate, made in May.

That's because the state owed more than expected in corporate and personal income tax refunds.

The change means corporate income tax collections won't trigger "kicker" rebates, which are paid when income tax collections during a two-year budget cycle exceed projections by at least 2 percent.

The slight downturn in the forecast is unlikely to require any immediate changes to the state budget.

— Associated Press


Reader Reaction
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form. New comments are only accepted for two weeks from the date of publication.
COUPON OF THE WEEK