Salem, OR—Governor Kate Brown today issued the following statement about the state’s February revenue forecast:
"Today’s revenue forecast brings some welcome news, as we see that state revenues are on the rise, making it clearer that the impact of the latest recession on income tax revenue is significantly smaller than we had estimated it to be last spring,” said Governor Brown. "Even with this good news, it is important to move forward cautiously, as the road ahead remains unpredictable. We also know that many Oregonians are still struggling with job losses, underemployment, and making ends meet.
“Our May revenue forecast should give us a clearer picture of the state’s overall budget outlook for the next biennium. In addition, there is an incredibly important effort on the horizon: President Biden’s pending $1.9 trillion federal coronavirus relief package that Congress is currently debating. If passed, this bill would provide another round of much needed aid for states and direct benefits for Oregonians in the form of essential services such as unemployment assistance, nutrition assistance, housing aid, and tax credits for families and workers.
“It is important that we get clarity on both the pending federal relief package and the May revenue forecast before making consequential budget decisions. This is consistent with how I crafted my recommended budget for the 2021-23 biennium. It makes clear investments, reflects some difficult cuts, and prioritizes a number of investments that can be made should we receive additional federal assistance.
“I’d like to thank our congressional delegation for their work to secure federal funding for Oregon in the previous relief packages Congress passed, and for continuing to fight to secure additional assistance for Oregon and all states.
“As we wait for greater clarity on our budget climate, I remain committed to making prudent financial decisions and to position our state to manage unforeseen economic challenges that may come our way."