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State Revenue Forecast Offers Short-Term Relief, Long-Term Concerns
State economists are a bit more optimistic about near-term tax collections than they were three months ago, but they say sluggish economic growth poses long-term financial challenges for Oregon.
Economists gave state lawmakers a quarterly revenue forecast on Wednesday. They say Oregon's general fund and lottery will collect about $80 million more during the current two-year budget than they predicted last quarter. That's likely to mean there's no need for immediate budget cuts.
But the latest forecast shows a sharp drop in projected revenue during the next budget period, indicating the era of tight budgets is likely to continue.