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Will Oregon face a $1.4 billion deficit? It depends

July 28, 2016

State agencies submitting budget requests for the next biennium are facing the challenge of planning for both growth and cutbacks, according to George Naughton, Oregon's chief financial officer and acting chief operating officer.

He said the state may face a $1.4 billion discretionary spending deficit in the next biennium — give or take $500 million. Officials have said that whether cuts occur depends in part on if voters approve a new corporate tax.

As acting COO, Naughton is the governor's primary state government manager. He sat for a wide-ranging interview last week with the Statesman Journal at the Executive Building in downtown Salem.

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