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“Oregon’s September Revenue Forecast shows that the state continues to collect record revenue,” said OBI President and CEO Angela Wilhelms. “Expected tax collections for the current biennium rose $600 million since the June forecast, bringing expected revenue for this biennium to $27.9 billion. That’s $4.6 billion more than the state expected in June 2021. Meanwhile, the corporate activity tax is generating far more revenue than the $1 billion annual sum lawmakers expected.”

“The state general fund has roughly doubled in 10 years and is expected to top $40 billion by the end of the decade. Even as the state collects record revenue, however, taxation and inflation are placing a significant burden on Oregonians and employers. For these reasons, Oregon should focus on living within its means and ensuring that existing programs are working well before even considering tax increases.”