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.
When it comes to tax policy, all too often Oregon fails to fly with her own wings. Rather than heed
By the end of this decade, local governments in Oregon could have about $140 million less per year to pay for libraries, fire departments, and other local services if a proposal to freeze property taxes for homeowners who are seniors becomes law.