PORTLAND, Ore. (AP) — As Oregon lawmakers return to the Capitol on Tuesday for the 2022 legislative session, their priorities include affordable housing, bolstering the state’s workforce, a $500 million cushion for the next biennium, tax cuts and limiting the emergency power of the governor.
But how much money legislators are envisioning spending has yet to be determined, as lawmakers await an updated revenue and economic forecast for Oregon that will be presented Feb. 9.
During the last revenue forecast, in November, state economists predicted general fund and lottery revenues would come in $1.5 billion higher than they expected when lawmakers finalized the current, two-year $27 billion budget.
“There’s obviously a revenue forecast that’s going to come up here shortly that will change what the numbers are, you know, plus or minus,” said Democratic Rep. Dan Rayfield, the House Speaker designate. “In terms of what we want to spend is also a derivative of how much we want to maintain and our ending fund balance.”
However, majority Democrats and Gov. Kate Brown have suggested approving $1 billion to $2 billion in spending during the five-week session.