Tuesday, Aug 30 2011 2:10PM
Oregon's budget is going to be $200 million lower than initially projected.
Tax collections for Oregon residents will be $200 million lower than initial projections for the state's recently started two-year budget cycle, according to reports.
Sources say the budget was slashed due to recent poor national and international economic developments, including the nation's weak housing and jobs markets, as well as the downgrading of the country's credit rating.
Governor John Kitzhaber stated he and fellow state lawmakers are focused on making Oregon's economy healthy once again.
"It is absolutely essential that we continue our efforts to get the private-sector economy going and put our people back to work," said Kitzhaber. "Too many Oregonians are struggling, and critical health, child, and family services have already been cut significantly."
Mark McMullen, Oregon's interim state economist, told the Associated Press the financial struggles of rural communities statewide is substantial. In the state's plans to fix the economy, McMullen said many rural residents have been left unconsidered.