Oregon budget hole grows by $14.5 million

The Oregon budget is in even worse shape than thought.

State officials said today the revenue forecast released two days earlier overstated revenue from the cigarette tax by $14.5 million.

The estimated budget shortfall now stands at $577.1 million, rather than $562.6 million.

Gov. Ted Kulongoski said Tuesday that budgets will be trimmed by 9 percent during the rest of the state's two-year budget period, which ends in mid-2011.

— The Associated Press

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