What is the budget for 2023 in Oregon?

Budget links The biennial budget, as finalized by the legislature on June 25, 2023, plans for total fund spending over two years of $121.3 billion, a 3.6 percent decrease from the enacted budget for the prior biennium, with the decline primarily attributable to less spending from federal funds.

What is the annual state budget for Oregon?

The legislatively approved budget (LAB) for the 2021-23 biennium, as adjusted during the 2021 second special session and 2022 regular session, and including authorized executive branch administrative actions through March 2022, is $121.165 billion total funds, an increase of $8.378 billion from the 2021-23 budget ...

What is the budget proposal for Oregon?

Kotek's proposal consists of $32.5 billion in revenue and $32.1 billion in spending. Those higher revenues in the governor's budget include money that was allocated but never spent in the 2021-23 budget and was folded back into the state's General Fund.

What is the Oregon legislatively adopted budget for 2023 2025?

The legislatively adopted budget (LAB) for the 2023-25 biennium is $121.261 billion total funds, which is a decrease of $4.494 billion, or 3.6%, from the 2021-23 legislatively approved budget of $125.755 billion.

What is the budget for Oregon State University 2023?

The Oregon State University Board of Trustees on Friday approved a $1.64 billion operations budget for the 2023-24 fiscal year and advanced to the construction stage a $213 million research center in Corvallis and a $16.5 million housing development in Newport.

How To Budget Your Money In 2023 | Best Budgeting Tips 2023

Is it expensive to live in Oregon?

The cost of living in Oregon is 10% higher than the national average. Housing is 22% higher than the national average, while utilities are 2% lower. When it comes to basic necessities such as food and clothing, groceries are around 3% higher than in the rest of the country, while clothing costs 3% higher.

Why is Oregon university so expensive?

Almost half of the UO's annual budget comes from two sources—student tuition and state government support. These two sources comprise the bulk of the UO's Education and General (E&G) budget, which pays for the majority of the institution's academic operating costs.

What is the cost of living increase for 2023 in Oregon?

6.55% COLA increase in December 2023: One of the standout victories of this contract is the substantial 6.55% COLA scheduled for December 2023. This increase ensures that state workers will see a tangible boost to their income, helping them keep pace with the rising cost of living.

Has the government passed a budget for 2023?

Updated 1/3/2023: The President signed the FY 2023 omnibus appropriations bill on Thursday, Dec. 29. The House passed the measure by a 221-205-1 vote on Friday, Dec. 23, following Senate passage by a 68-29 vote on Thursday, Dec.

What's in the budget 2023?

FULL BUDGET ANALYSIS

A raft of measures were announced, including the extension of some business tax reliefs, ongoing funding for the levelling up agenda and targeted measures on childcare and pensions to encourage more people back into work.

How much money does the Oregon government have?

The total Legislatively Adopted Budget (LAB) for the 2021–2023 biennium is $112.8 billion total funds.

Does Oregon have a rainy day fund?

Oregon Rainy Day Fund (ORDF)

The ORDF was established by the 2007 Legislature as a general purpose reserve fund.

What is the General Fund in Oregon?

General Funds come almost entirely from income taxes paid by individual Oregonians and Oregon businesses. The General Fund is also the most discretionary source of funds that the Governor and Legislature may spend.

How much is Oregon in debt?

U.S. state and local government debt in Oregon FY 2000-2022

In the fiscal year of 2022, the state of Oregon had state debt totaling 13.8 billion U.S. dollars.

How does Oregon make its money?

Personal income tax and corporate excise tax are the most significant components of the state General Fund, and property tax is the most significant local tax in Oregon. These three taxes represent about 80% of all state and local taxes. Oregon does not have a general state sales tax.

Is Oregon the most expensive state?

Oregon ranks ninth among U.S. states for highest cost of living at 21.1% above the national average.

What are the 3 biggest expenses in the federal budget?

Major expenditure categories are healthcare, Social Security, and defense; income and payroll taxes are the primary revenue sources. During FY2022, the federal government spent $6.3 trillion. Spending as % of GDP is 25.1%, almost 2 percentage points greater than the average over the past 50 years.

How much is the US in debt?

The $34 trillion gross federal debt equals debt held by the public plus debt held by federal trust funds and other government accounts. In very basic terms, this can be thought of as debt that the government owes to others plus debt that it owes to itself. Learn more about different ways to measure our national debt.

Where does the US get its money?

Sources of Federal Revenue

Most of the revenue the U.S. government collects comes from contributions from individual taxpayers, small businesses, and corporations through taxes. Additional sources of tax revenue consist of excise tax, estate tax, and other taxes and fees.

What is the average wage in Oregon 2023?

The average hourly wage for Multnomah and Washington counties (the Portland-Metro region) was $34.80, and Clackamas County came in at $32.30 in 2023. Jobs in Eastern Oregon ($25.63) and Southwestern Oregon ($25.49) had lower average wages than jobs around the Portland tri-county area.

How expensive is Portland Oregon?

The cost of living in Portland, OR is 10% higher than the state average and 20% higher than the national average. Portland, OR housing is 50% more expensive than the U.S average, while utilities are about 4% less pricey.

How long do you have to live in Oregon to be a resident?

Residency Definitions

In order to establish a domicile in Oregon, a person must maintain a predominant physical presence in Oregon for 12 consecutive months after moving to the state.

What is the number 1 university in Oregon?

Reed College

#1 Best Colleges in Oregon.

Is Oregon good academically?

University of Oregon is ranked #98 out of 439 National Universities. Schools are ranked according to their performance across a set of widely accepted indicators of excellence.