Colorado's Budget: A Billion-Dollar Dilemma
Denver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Colorados state budget outlook is uncertain due to differing revenue forecasts. The governors office predicts a $229 million shortfall this fiscal year, while legislative economists estimate a $914 million deficit. Both forecast a surplus next year, but with significant differences. Lawmakers must choose one forecast to base the spending plan on, with general fund projections around $18.2 to $18.4 billion. The committee faces tough choices, as choosing too low could force cuts to key programs, while choosing too high risks future problems. Rising Medicaid costs create a $1.5 billion hole, and the committee is seeking $1 billion in savings. The governors budget chief recently proposed $150 to $200 million more for prisons, sparking debate. The committee aims to propose a budget by late March or early April.
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