Revenue update: analysts cite $23 million net negative change, much driven by timing
Michael Kennedy of Oregon's Office of Economic Analysis told lawmakers that updated tracking and timing effects reduced the forecast by about $23 million and that some shortfalls in early months are expected to be made up later in the biennium.
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Michael Kennedy, who presented the revenue implications of the economic outlook, told the committee the updated forecast implies a negative change of roughly $23,000,000 compared with the previously presented figure.
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