Business, Government, Oregon

With revenues up $725 million, Oregon taxpayers should expect kicker in 2024, forecast says

The Oregon Department of Administrative Services (DAS) issued this week a quarterly economic forecast predicting higher wages increasing projected tax revenue will allow the state to recover more quickly from the recession, triggered by the ongoing COVID-19 pandemic than it did from The Great Recession of the early 2000s.

Oregon’s increasing wages, up about 8 percent since March 2020, may have made up for expiring federal aid, but any gains felt by the middle class mostly have been wiped away by supply-chain bottlenecks and inflation, which surged to 6.2 percent in October 2021 -- the most upward pressure since November 1990, according to TradingEconomics.com

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