On August 28, during a joint meeting of the Oregon Senate Finance and Revenue Committee and House Revenue Committee, state economist Mark McMullen released the quarterly Economic and Revenue Forecast. The revenue forecast shows a slight decline of $37 million in total resources for the 2013-15 biennium, leaving some $16.7 billion in projected general and lottery funds. The decline is due to a weak end to the 2011-13 biennium that affected the starting balance for 2013-15 biennium. According to McMullen, the economy is progressing about as expected with steady if slow growth.
On September 4, after the revenue forecast, Governor John Kitzhaber issued a statement on a potential September 30 special session to consider additional reforms to the Public Employees Retirement System (PERS) and revenue enhancements. Kitzhaber’s release said that he was working on a plan with legislative leaders that would reduce the unfunded liabilities in the PERS system by a total of $5 billion and increase revenue by $200 million.