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State revenue forecast up, but personal kicker a possibility
Today’s state revenue forecast had mixed news for state budgeters.
Overall, Oregon’s 2013-15 revenue, including a slight decrease in lottery income, is up $132.6 million. At the same time, the state saw enough of an increase in personal income tax collections that a “Kicker” in 2014 is a real possibility. That will keep all eyes on the March forecast, which will be released during the February legislative session. As it stands, the state is just $145 million in revenue growth this biennium away from activating the unique tax refund law.
Overall the state’s economy is rebounding as projected and is improving across the state and in most sectors.
The revenue forecast is available at the Office of Economic Analysis website.