State economists say revenue growth will slow to 10% in future years because aging baby boomers will have less money.
The trend is expected to affect not only state income tax collections but also a wide assortment of other taxes and fees, including hunting licenses, tuition, gas taxes, and alcohol and tobacco sales. The overall impact would affect the state budget and Oregon's ability to pay for a multitude of services and programs, such education, transportation and social services.
"The big picture impact is we’re going to see slower net employment growth, slower personal income growth, and as a result, slower income tax revenue growth for the state," senior economist Josh Lehner said.
Read more at OregonLive.com