In all of the talk of bailouts and stimulus plans, it’s easy to miss out on all the little pieces that add up to the 800, 900, or 1 trillion dollar price tag.
One of the lesser-reported pieces that has a direct impact on Oregon, is the “budget squeeze” provision. Of the $787 Billion proposed stimulus plan, nearly $54 Billion is earmarked for state budgets. The idea is that cash will help stabilize things on a local level where budgets may have gone topsy-turvy due to the economy.
Oregon is looking at an $800 MILLION shortfall which has threatened schools and public works but the bill gives us about $560 million to keep things afloat.
Even better, the original plan cracked open the federal wallet in July which is way passed Oregon’s budget cycle (like getting a paycheck in July, but the rent is due in March). But, a late change to the proposal frees up that cash a lot sooner. So, when president Obama signs the proposal today in Denver, Oregon can start spending the money right away.
