| Press Release |
|
|
 |
| November 22, 2006 |
|
Governor hails revenue forecast as opportunity for strategic investment
Health care, education and environment should be priorities, Governor says
Salem, Oregon — The Oregon Office of Economic Analysis on Wednesday released its latest revenue forecast for the current ’05-’07 biennium and the upcoming ’07-’09 biennium. The revenue forecast shows increased state revenues and indicates continued growth in Oregon’s economy.
Reacting to the forecast, Oregon Governor Ted Kulongoski said, "Oregon has enjoyed strong economic growth over the last four years with more than 135,000 new jobs created and a manufacturing sector that’s among the fastest-growing in the country. But we must seize this opportunity for strategic investments in educational opportunity for more students, health care for more Oregonians, and clean energy for a more sustainable and prosperous future."
The Governor said the forecast underscores the importance of targeted investment for the state’s long-term economic health to give "more hope and opportunity to a greater number of Oregonians."
Over the past four years, investments in transportation, industrial land, skills training, and improving Oregon’s business environment have helped fuel a strong economic recovery.
"Today’s revenue forecast gives us a genuine opportunity to make Oregon a better place to live, learn and raise a family, to pursue a career and grow a business, to prosper in an ever-stronger economy and thrive in a healthy environment," said the Governor. The Governor also stressed his commitment to directing the state’s resources to create more living wage jobs and greater access to health care for Oregonians. Although Oregon enjoys historic employment levels, too many Oregonians have not fully shared in the prosperity, said the Governor.
Under current law, a significant portion of the revenue increase from this economic expansion will go to the personal and corporate "kickers."
"An increase in state revenue means our economy is doing better, which is good news," the Governor said. "But we cannot ignore the fact that the corporate kicker law leaves Oregon’s bank account with a zero balance when the next economic downturn occurs. The time has come for voters to decide whether sending massive refunds out-of-state is the right policy for Oregon’s future, or if we should direct those revenues here at home in a rainy day fund to invest in Oregonians."
The Governor has worked with members of the education and business communities to develop a proposal for the 2007 Legislature that would dedicate the corporate kicker to a rainy day fund for education, health care, and public safety during economic downturns.
Contact:
Lonn Hoklin: 503.378.6169
Charlie Burr: 503.378.6496
|
|
|
|
