SALEM, Ore. (AP) — Oregon’s budget picture is improving.
Oregon Public Broadcasting reports that a quarterly revenue forecast delivered by state economists Wednesday morning shows the state is now expected to top $25 billion in the general fund and lottery revenue during the current budget biennium, which stretches to June 2021.
The updated figure includes a $183.4 million increase in the general fund and lottery resources over what economists predicted in December, and nearly $675 million more than predicted last June.
Those increases were largely driven by higher-than-estimated personal income and estate tax collections.
The updated revenue picture comes as the Legislature considers a wide range of spending proposals in its legislative short session. Big-ticket items demanding lawmakers’ attention include wildfire preparedness, homeless shelters and affordable housing.