Legislators look at cutting tax credits to even up budget
SALEM, Ore. (AP) - Oregon legislators have a budget hole of more than $180 million to fix. A revenue forecast they got Monday said income taxes collections have been weaker than expected for the first eight months of the two-year budget. When they began a four-week special session last week, legislators knew that a shortfall was ahead. One measure to offset it is already working its way toward approval. The legislation would cut the tax credits that have spurred Oregon's wind farm industry by $50 million. Legislators also expected to tap reserve funds, and the size of the shortfall increases the chances they'll start trimming agency budgets. (Copyright 2010 by The Associated Press. All Rights Reserved.)