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Starr offers rainy day fund alternative to Governor proposal

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Instead of stealing the kicker, Starr requires dedicated saving every budget cycle

Salem, OR – This February, Senator Bruce Starr (R-Hillsboro) is offering an alternative to Governor Ted Kulongoski’s rainy day fund proposal. Starr will again introduce a bill that would put 3% of state revenue into a savings account at the beginning of every budget cycle. Governor Ted Kulongoski (D) has proposed changing the state constitution to allow use of Oregon’s kicker money for a rainy day fund.

Rainy Day Fund

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Fiscal responsibility has also been a major charge of Senator Starr’s. For multiple legislative sessions, Starr has pushed legislation encouraging Salem’s elected leaders to set aside 3% of the General Fund before the bi-annual budget is determined, and put that money into the state’s rainy day fund.

Budget

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Balancing the budget is required by the Oregon Constitutution.

Budget Update: Options for Handling the Deficit

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Last month the Legislative Fiscal Office released information outlining the current budget situation and the steps the Co-Chairs of the Joint Committee on Ways and Means are taking to balance the budget.  This month the economic and revenue forecast will be released, giving a much clearer picture of how large the deficit is for the 09-11 budget.  Until then, the Co-Chairs have estimated that the budget will be about $4.3 billion short.

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