The quarterly revenue forecast was released last week by the Oregon State Economist.
State Revenues continue to climb. Here are the key numbers:
- Revenue for the current budget cycle (2017-2019) has been revised UP by $59.5 million since the last quarterly forecast.
- Revenue for the current budget cycle (2017-2019) is now over $1.1 billion MORE than was anticipated when the 2017 legislature adopted the current budget.
- Revenue for the next budget cycle (2019-2021) is projected to increase by another $136 million. As of now, the next legislature will have $23.931 billion in General Fund Revenues to budget. This is up substantially from the $21.4 billion current budget.
- There will be a major “Kicker” rebate of $724 million to individual taxpayers next year.
- The State will have a total of over $2.5 billion in reserve funds.