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LRO: HR 1 pushed Oregon’s 2025–27 ending balance into the red; legislature faces choices to restore it
Summary
Legislative Revenue Office analysts told the Senate Interim Committee on Finance and Revenue that HR 1’s federal tax changes are embedded in the September forecast and contributed to a projected $373 million biennial deficit, leaving Oregon to reduce spending, raise revenue or tap reserves.
The Legislative Revenue Office presented the Senate Interim Committee on Finance and Revenue with an updated picture of Oregon’s finances after HR 1, saying the federal law changes were already reflected in the September forecast and contributed to a projected $373,000,000 shortfall in the 2025–27 biennium.
LRO staff told senators the biennium began with a roughly $2.0 billion beginning balance and more than $35.0 billion in net revenue but that, with HR 1 incorporated, the forecast now shows a negative ending fund balance of about $373 million. "With the passage of HR1 and our automatic…
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