State Revenue Forecast Shows Increase

Oregon’s quarterly revenue forecast released Thursday indicates there will be an additional 264 million dollars in general fund revenue to work with in the state’s budget for the 2015-17 biennium.  That would add 100 million dollars to the K-12 education budget under a promise from Democratic leaders in the Legislature to dedicate 40 percent of any jump in the revenue forecast to public schools.  But that still would leave the K-12 budget about 145 million dollars short of the seven-point-five billion dollar mark education leaders say they need to stop a pattern of cuts.  Republican 52nd District Representative Mark Johnson continues to hope his bill to take all of the revenue forecast increase and put it into the K-12 budget will get a hearing in the House Revenue Committee.  Johnson did add the revenue forecast would leave the state budget with a 900 million dollar end fund balance, which could also be used in part to help K-12 funding, but he also said much of that needs to be saved in case of another economic downturn.  The revenue forecast adds 123 million dollars to the kicker rebates to Oregon taxpayers, putting the refund projection at 473 million dollars.  The kickers occur when tax collections exceed projections by at least two percent.

Adblock Detected

We have detected that you are using an adblock in your browser’s plugin to disable advertising from loading on our website.

Your Experience is very important to us, and your Ad Blocker enabled will cause our site not to perform as expected.  Turn off the Ad Blocker or add our site to your exceptions.  After you turn off or add exception please refresh the site or click ok.

Please note: Clicking OK below will NOT disable your ad blocker. You will need to make that change within the ad blocker's settings.