Revenue Forecast Stable But Challenges Exist

The latest state economic forecast released this week showed Oregon’s tax revenue remaining stable, but there are budget challenges looming for legislators in the next couple of years.  Republican 26th District Senator Chuck Thomsen sees two big problems in particular, both on the spending side.  They are paying Public Employee Retirement System obligations, and rising health care costs.  Thomsen said the federal economic forecast does provide some positive aspects.  But the state report warned a weakening in the stock market would impact capital gains revenues, and uncertainty with foreign trading partners could cause problems for export sector of Oregon’s economy.

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