The Oregon state economist last week cut his general fund revenue forecast for the 2007-2009 biennium by 1% because of slower growth in personal income tax collections.

The general fund is forecast to collect $12.9 billion in the current two-year budget cycle, a decrease of $119 million from the June 2008 forecast, according to the Oregon Office of Economic Analysis. That reduces the forecast for the state’s ending balance to $23.8 million from $143 million.

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