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Economists Predict Relatively Stable State Revenues

Governor Kate Brown Statement on November Revenue Forecast

 

(Salem, OR) — Governor Kate Brown today issued the following statement about the state’s November revenue forecast:

"Today’s forecast projects relatively stable state revenues," said Governor Brown. "While this provides some sense of relief in uncertain times, we know that the sacrifices Oregon's businesses are making right now to prevent the rapid community spread of COVID-19 will not be reflected until the next revenue forecast is released in January. 

"We continue to face uncertainty about Oregon's economy moving forward. What is abundantly clear, however, is that our state—like so many others across the country—needs another round of federal stimulus money. This is a worldwide public health crisis, and it demands a coordinated, national response. And we simply cannot wait until Congress convenes in January. 

"Our workers who are facing unemployment and the discontinuation of federal benefits programs at the end of the year—and employers who have had to close businesses for the betterment of public health—need help. And they need it right now.

"I am calling on Congress to put aside their partisan differences and deliver on a coronavirus relief package, including another round of Federal Pandemic Unemployment Compensation and an extension of the Pandemic Unemployment Assistance program and the Pandemic Emergency Unemployment Compensation program. There is no time to waste. We urgently need congressional action to provide direct help to local governments, businesses, and families so that we can all continue to provide critical services to Oregonians during this crisis. 

"In addition, this year's wildfires have burned over 4,000 homes and structures in communities across Oregon. The state faces significant costs as we work to remove debris and rebuild wildfire-impacted communities. We cannot recover from these fires alone—we will need substantial federal support.

"I remain committed to exploring additional state-level solutions to assist Oregonians and Oregon's businesses, especially those that have been hard hit by the pandemic, including the hospitality industry, small businesses, and women, Black, Indigenous, People of Color, and Tribal-owned and operated businesses.

"I also remain committed to making prudent financial decisions and to position our state to manage unforeseen economic challenges that may come our way."

 

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