Here is the summary of the Pew Center on the States Report on Oregon, part of a larger study that found Oregon in the top ten of fiscally-imperiled states:
November 11, 2009 The downturn has severely affected some of Oregon’s leading industries, such as timber and computer-chip manufacturing, and exposed the state’s reliance on volatile corporate and personal income taxes—the result of voters rejecting a statewide sales tax nine times. State revenues plummeted 19 percent between the first quarter of 2008 and the first quarter of 2009, a reflection of Oregon’s heavy reliance on income taxes. Lawmakers this year approved more than $1 billion in new taxes to make sure the state can pay its bills. But voters in January 2010 will have the final say on $733 million in new income taxes that are part of that package, and the electorate historically rejects tax hikes at the polls.
Downoad the Oregon "fiscal peril" report from Pew
Download the full report: Beyond California: States in Fiscal Peril
Comments