Legislators have until March 8 to either find new sources of revenue, trim agency spending or agree to tap into the state's reserve money to balance the general fund.
Either way, lawmakers won't have a lot of wiggle room for new initiatives, Senate President Rob Wagner told reporters, per the Oregonian.
What we're watching: It's an election year, and with Gov. Tina Kotek up for reelection — and one Republican in each chamber running against her — be prepared for some political theater.
