New Oregon quarterly revenue forecast up nearly $2 billion; big kicker assured; Kotek, lawmaker outline priorities

SALEM, Ore. (KTVZ) -- Oregon's latest quarterly revenue forecast arrived Wednesday, up nearly $2 billion, locking in a $5.5 billion kicker refund to Oregonians (and a $1.8 billion corporate kicker) amid a legislative stalemate in the state Senate that has blocked final action on numerous bills.

The news brought reactions from Gov. Tina Kotek and others.

Here's Gov. Kotek's statement;

Governor Tina Kotek Calls for Bold Action in Response to New Revenue Forecast

 Salem, OR – Today, Governor Tina Kotek issued a statement in response to the quarterly revenue forecast:

“Oregonians have clear expectations for legislators to address our housing crisis, ensure that our behavioral health system is accessible in every part of the state, and set up our youngest students for success,” Governor Kotek said. “The revenue forecast lays the path for bold leadership. We cannot afford to squander this opportunity, and I look forward to a continued partnership with legislative leaders to deliver results for all regions of the state.”

The Office of Economic Analysis presented the latest revenue forecast this morning, projecting an additional $1.96 billion in state revenue. The Governor restated her call for focusing on the state’s top priorities:

• $316 million to continue and expand on the state’s response to homelessness prevention and unsheltered homelessness, and $1 billion in bonding to build and preserve more affordable housing.
• $280 million dollar investment to address the behavioral health crisis playing out across Oregon communities and support a more accessible, better staffed system of care no matter where people live.
• $120 million to improve early literacy by delivering the science of reading across all 197 school districts in Oregon to help our students learn to read and write. 

In addition, the forecast provides the opportunity to address a range of other urgent issues that are impacting Oregonian’s daily lives. The figures below are in addition to those originally proposed in the Governor’s Recommended Budget:

• $64 million to address urgent water quality and infrastructure issues in communities, particularly those that are small and rural, across the state;
• $207 million to continue advancements in the state’s wildfire protection system;
• $6.3 million to open more training slots so more officers can move through the academy at the Department of Public Safety Standard and Training ; and
• $6.7 million to address the backlog at the Oregon Board of Parole for updating the state’s sex offender registry.

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Release from Senate Republican Leader Tim Knopp, R-Bend:

Republicans Trust Oregonians with Their Money, Their Families

SALEM, Ore. – Today, the May Economic and Revenue Forecast was released under a new, modernized model that lacked explanation, but indicated record revenue. If accurate, the Personal Kicker for the 2023-2025 Biennium is up to an estimated $5.5 billion and the Corporate Kicker an estimated $1.8 billion.

Senate Republican Leader Tim Knopp (R-Bend) released the following statement:

“Oregon families are on track to receive the largest Kicker return they have ever received. Republicans trust Oregonians with their tax refund, their children, and their families. Meanwhile, Democrats want government to spend your money and parent your children.

“Senate Democrats must come to the table in good faith, abandon their uncompromising, unlawful, unconstitutional agenda, and allow us to participate in floor sessions. Senate Republicans have been clear that we are willing to pass substantially bipartisan budgets and bills that comply with the law.”

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House Majority Leader Statement on Promising Revenue Forecast

SALEM, Ore. - Today, House Majority Leader Julie Fahey (D-West Eugene & Veneta) issued the following statement after the release of the latest quarterly state economic and revenue forecast: “Today’s forecast is promising. It shows our economy remains healthy and the investments we’ve made in working Oregonians have been successful.  “While this is great news for our economy, the reality is that too many Oregonians continue to struggle to make ends meet and not all wages are keeping up with inflation.  “This means now more than ever, it’s critical we invest state revenues and deliver on the most pressing issues Oregonians face -- from education and behavioral health to safer communities, homelessness and stable, affordable housing for Oregonians.  “In January, we committed to rebuilding a stronger, better future for Oregonians. With five weeks left, we're ready to complete the work we were sent here to do.”

House Republican Leader Statement on May Revenue Forecast

Salem, OR – Today, House Republican Leader Vikki Breese-Iverson (R-Prineville) issued the following statement upon the release of the May revenue and economic forecast:

“This morning’s revenue forecast revealed a few things – Oregon’s funding is secure for the time being, our workforce is slowly returning to pre-pandemic levels, and we expect the kicker to be rightfully returned into the hands of hardworking Oregonians. But while the State of Oregon is doing well, I want to ask my fellow Oregonians – are you?”

“It should be no surprise that the revenue derived from Oregon’s Corporate Activity Tax (CAT) is up, which also means Oregonians are paying more for everything as a result. Oregon is effectively incentivizing businesses not to come here, while family businesses are shutting down because the cost of doing business is simply too great.”

“Despite the detrimental impact of the CAT Tax on businesses, Democrats have shut down any potential conversation around tax cuts to reduce the size of government. House Republicans will continue to advocate for fiscal responsibility, a lower cost of living, and the viability of our business community.”

Click here for more information about today’s quarterly revenue forecast.

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Strong Revenue Forecast Opens Door for Opportunity in Oregon

Statement from Senate Majority Leader Kate Lieber on June 2023 Revenue Forecast

SALEM, Ore - Today, the Office of Economic Analysis’ June 2023 Revenue Forecast indicated that Oregon’s economy and state revenue are growing at a strong rate. Senate Majority Leader Kate Lieber (D – Beaverton & SW Portland) released the following statement in response:

“Our economy and state revenue are growing because Oregonians are working hard, but too many families are still feeling the squeeze.

Oregonians are clear: they want their legislature to be hard at work, making smart investments to solve our most urgent challenges. We must prioritize ending the homelessness crisis, reducing barriers to health care, improving our schools, and making our streets safer in every corner of the state.

This is an incredible opportunity, but if we’re going to take advantage of it, be responsible stewards of our tax dollars, and deliver the solutions Oregonians are counting on, every lawmaker needs to be doing their job.”