financial prognosticators saw it coming
Thu November 21, 2013
Oregon's Economic Expansion 'Getting Stronger'
Originally published on Thu November 21, 2013 3:49 pm
Oregon's revenue outlook is basically flat, but that doesn't mean the economy is stagnant.
State economist Mark McMullen updated lawmakers with the latest revenue projections at the capitol Thursday morning. McMullen said Oregon's economy is on the rise and that financial prognosticators like him saw it coming.
"While the economic expansion is getting stronger, we've been banking on this for some time," says McMullen. "And so there really isn't a significant increase in the revenue forecast. The revenue forecast is roughly unchanged."
Oregon's revenue projections did move up a little. That's because lawmakers approved some targeted tax hikes during a special session in October.
McMullen says if those tax hikes raise more money than anticipated, it could trigger Oregon's unique kicker rebate.