LOC News
State Revenue Forecast Improves - There's a "but"
While the state’s tax collections continue to outpace projections, economists this week warned of slowing and a recession. Actual personal income tax collections have exceeded projections by 8.1%, thus triggering a “kicker” of $1.6 billion. However, the Oregon Office of Economic Analysis (OEA), the agency that provides the forecasts, has stated that the collections appear to be greater than Oregon’s economy should reasonably provide. Determining the reasons behind these strong returns will require additional analysis. The OEA also notes that slowing is expected even if the economy doesn’t contract.
For more information, city leaders are encouraged to peruse the OEA presentation.
Contact: Scott Winkels, Intergovernmental Relations Associate - swinkels@orcities.org
Last Updated 8-30-19