Kitzhaber, legislative leaders: Billions in PERS cuts to fund education

Portland Business Journal:

Gov. John Kitzhaber and legislative leaders on Wednesday announced they have reached agreement on a complicated deal that would boost public education while cutting billions in long-term PERS costs.

The deal provides a framework for lawmakers who will gather Sept. 30 for a previously announced special session. It still requires approval from the full House and Senate.

The money saved through the agreed upon PERS changes and new revenue would allow lawmakers to boost school funding by $140 million…

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