Oregonians received disappointing news from the May Economic and Revenue Forecast. General Fund revenue in the 2003-05 budget will be $646.5 million less than what was expected in the March forecast. This decrease brings the combined revenue slide since January, when Governor Kulongoski proposed his 2003-05 budget and the Legislature went into session, to $1.1 billion, a 10.2 percent decline. The $1.1 billion in reduced revenue is on top of the approximately $2.1 billion in cuts from what would have been required to continue programs approved by the 2001 Legislative Assembly.

Read Economic Recovery Will Not Save Vital Programs: Additional Revenue Needed to Pull Oregon Out of Doonesbury (PDF).