Latest OR budget hit smaller than expected - KPTV - FOX 12

Latest OR budget hit smaller than expected

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Economists say Oregon will take in $35 million less than was projected three months ago, an amount that isn't likely to require cuts beyond those recommended by key legislators last week.

The latest shortfall was revealed in a quarterly revenue forecast released Wednesday. The hit is less severe than the $50 million to $80 million that lawmakers feared.

In all, the new forecast projects, the state will take in $341 million less than lawmakers assumed when they approved the budget last summer.

Reserves built into the budget can cover some of the shortfall. But the three lawmakers in charge of budget legislation have proposed laying off state workers, closing a prison and cutting back on compensation for workers who provide in-home care for seniors and people with disabilities.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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