As Oregon State Treasurer, part of my job is to advocate in Washington, DC for the financial well-being of Oregonians. Last week, the Treasury Executive team and I met members of Oregon’s congressional delegation and shared our concerns about the destabilizing impact that Trump administration actions are having on Oregon’s economy and the nation. The budget framework that Congressional leaders are advancing will also undermine the financial stability of households and communities.

The stock market’s recent slide shows that families and businesses do not want the inflationary price hikes and the uncertainty the administration has injected into the economy.

In our meetings with Oregon’s congressional delegation, I reiterated the message I’ve been saying for weeks: For too many Oregonians, there is too much month left at the end of the money – nearly half of all Oregonians don’t have $500 saved to pay for an emergency expense. An additional $1,200-$2,000 increase in household costs per year due to tariff-fueled trade wars that no one in Oregon asked for is a cost many Oregonians can’t absorb, especially families who are already struggling to save.

I also shared my concerns about the impact of federal budget cuts on Oregonians. In my role as Treasurer I’m concerned that the full range of federal layoffs and proposed budget cuts will devastate Oregon communities.

I’m particularly concerned about a proposal to eliminate the tax-exempt status of municipal bonds. Municipal bonds enable state and local governments, school districts and other public entities raise money to build schools, roads and bridges, provide clean drinking water, housing, and other vital projects that benefit everyone in communities all across Oregon.

According to data compiled by the University of Chicago, over the past 10 years:

• Tax-exempt municipal bonds have financed nearly $40 billion in job-creating infrastructure projects across Oregon, issued by 355 different Oregon cities, counties, school districts and other public entities.

• Tax-exemption has saved Oregon taxpayers more than $800 million in financing costs.

• Removing the tax-exempt status of municipal bonds would raise borrowing costs for taxpayers by 54%.

I urge the administration and congressional leadership to work with states like Oregon to lower prices, protect jobs, and maintain the vital services that our wellbeing depends on.

The delegation members I spoke with heard these concerns. I appreciate the time they took to meet with me and members of the Oregon State Treasury team.

While we weren’t able to get photos of everyone on our trip, here are some we took with Rep. Bonamici, Rep. Bynum, Rep. Dexter, Rep. Hoyle, and Sen. Wyden.

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