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Oregon Revenue forecast short $180-million

Associated Press
 
February 9, 2010
 
SALEM, Ore. -- Oregon legislators have a budget hole of more than $180 million to fix.
 
According to a revenue forecast released Monday, income taxes collections have been weaker than expected for the first eight months of the two-year budget.
 
Currently, there is one proposed measure that would offset the shortfall. The legislation would cut the tax credits that have spurred Oregon's wind farm industry by $50 million.
 
Legislators also expect to tap reserve funds. The size of the shortfall increases the chances they'll start trimming agency budgets.

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