The dark clouds shadowing Colorado’s fiscal situation are giving way to a brighter economic outlook, according to a pair of forecasts presented Friday to state lawmakers. The arrival of a COVID-19 vaccine, an increase in job creation and a higher online sales are boosting the state’s economy, but it’s not universal. The latest numbers show […]
economic forecast
Posted inBusiness, Health, Politics and Government
Colorado lawmakers reconvene to consider stimulus plan, but experts question the cost to the state
The unemployment checks for Englewood resident Dana John and her husband ended in July, and the $1,200 federal stimulus money is long gone. One small hope on the horizon is the $375 check Colorado is sending as a stimulus to lower-income unemployed workers. It’s not much, but John said it’s much needed. “I don’t know […]
Posted inPolitics and Government
Colorado spared more budget cuts for now, but an additional $1 billion in reductions looms on 2021 horizon
No further budget cuts are immediately necessary as an economic forecast from the Polis administration shows a series of tax changes approved by Colorado lawmakers generated enough revenue to preserve the state’s slim budget cushion. Gov. Jared Polis’ office says a new economic forecast shows that tax revenue will allow the state to carry a […]
Posted inNews, Politics and Government
Colorado is the only state without a rainy day fund. Now the coronavirus means it will pay the price.
In early February, the governor’s office and state treasurer issued a warning to lawmakers: Colorado is the only state in the nation without a rainy day fund to buffer against a recession. Now is the time the state should save for a downturn, they said, before it’s too late. “We all know that the economy, […]
Posted inBusiness, COVID
Colorado’s craft beer industry is sobered as brewers predict mass closures if social distancing continues
The existential crisis in the Colorado beer world is palpable right now as an industry built on social gathering comes to realize that social distance is the new normal. As much as 15% of craft breweries expect to close by the end of the month if social distancing remains in place, according to a national […]
Posted inBusiness, COVID, News
Coronavirus isn’t stopping Coloradans from selling their homes. And some are even still going for a premium.
Two days after putting their Fort Collins home on the market, Jordan and Sarah Lewis got an offer that was $7,000 over their asking price. It came on a Friday, two days after Gov. Jared Polis issued a statewide stay-at-home order because of the new coronavirus. The Lewises didn’t wait for the weekend even though […]
Posted inCOVID, Politics and Government
The economic impact of the coronavirus is huge. Now Colorado lawmakers are looking at a budget deficit.
The economic decline resulting from the coronavirus pandemic is projected to put a significant hole in the state budget, a new reality that forces Colorado lawmakers to rethink the entire $32 billion spending plan. A forecast released Monday suggests a $1.5 billion decline in state tax revenue over the next three years as a result […]
Posted inBusiness, Energy, Politics and Government
New economic projections show smaller property tax cut. Colorado has oil and gas to thank (or blame).
A statewide property tax cut in 2019 isn’t expected to be nearly as deep as initially feared, economists told Colorado budget writers Thursday — a pronouncement that drew some relieved laughter from state lawmakers who were awaiting the latest estimates with dread. For a year now, the expectation had been that the state’s Gallagher Amendment […]