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Local leaders and legislative staff warn HR 1C2B4s federal tax changes could deepen Oregon short-session cuts
Summary
Legislative staff at the Clackamas C4 meeting said federal changes dubbed "HR 1" could create a $300MC2B4$700M hole in OregonC2B4s budget, forcing agencies to prioritize essential services; Rep. Gamba highlighted a Revenue Forecast Modernization Act to reduce volatility from the kicker.
Legislative staff told Clackamas County and city officials on Jan. 13 that federal tax changes commonly referenced as "HR 1" may create a substantial revenue shortfall for Oregon, complicating decisions in the short legislative session.
"I've heard anywhere from 300 to $700,000,000 in terms of a deficit," Daniel Mulkey, chief of staff to Representative Vanessa Hartman, said, describing the uncertainty staff are preparing for as they and agencies model cuts. Mulkey said offices are…
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