Governor Kate Brown today issued the following statement on the state’s May revenue forecast:
“Today’s revenue forecast indicates that we are continuing to see strength in Oregon’s economy as we round the curve to recovery from the pandemic. Strong state revenues, coupled with an unemployment rate that is back down to pre-pandemic levels, should be welcome news for Oregonians.
“However, I know that not all Oregonians are feeling these positive effects, especially given rising costs of living. The good news is that the continued strength in the economy will allow the legislature to look at additional one-time investments in the coming budget cycle—like those we’ve recently made in housing, behavioral health, and child care—to further spur growth and support working families, so that all Oregonians see and feel the benefits of our economic bounce back.
“Even with revenue growth, it is still important that we proceed with caution and plan for the future. Strong leadership in Oregon has led the state to a place where we have ample reserves to help us weather unprecedented times. We need to continue that forward-looking leadership as we head into the next budget cycle.”