Construction of the Milwaukie extension continues. From Portland-Milwaukie Light Rail Project: Construction - BridgeCams
, it is evident that its Willamette River bridge is largely done. West of that bridge, the construction is mostly done, while it continues east of that bridge. However, it seems to be in late stages there, like installation of the track and overhead cables.
The Columbia River Crossing
project has been shut down, and that means that it's unlikely that Portland's light-rail system will be extended anytime soon across that river to Vancouver, WA. The main part of that crossing would have been for I-5, however.