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Legislative revenue office: September forecast shows $373 million shortfall for 2025–27 biennium
Summary
The Legislative Revenue Office told the Joint Committee the September forecast shows a projected $373 million deficit for the 2025–27 biennium, driven by changes in federal tax law and weakness in employment; lawmakers must consider reducing spending, raising revenue or using reserves ahead of the 2026 short session.
The Legislative Revenue Office briefing to the Joint Committee on Public Education Appropriation on Sept. 30 laid out a narrowed set of options for addressing an emerging shortfall in the 2025–27 biennium.
For the record, Chris Alenak of the Legislative Revenue Office provided the quarterly September forecast and emphasized Oregon’s heavy reliance on the personal income tax. He said, “So our position right now is at negative $373,000,000,” and explained that federal tax law changes reduced the revenue forecast because Oregon’s tax rules are tied to federal…
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