Refund requests and challenges to reach vehicle owners outside its “echo chamber” has troubled the launch of the parks pass that underpins CPW’s new financial model
Office of State Budget and Planning
Posted inBusiness, Politics and Government
Colorado’s fiscal future looks brighter. Now lawmakers must decide how to spend the unexpected windfall.
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 […]
Posted inBusiness, Politics and Government
Colorado state budget could escape “worst of the worst,” latest economic estimates show
Colorado could be spared billions in additional state budget cuts under new economic forecasts released Friday with one crucial caveat: As long as new viral outbreaks don’t send the economy back into a tailspin. “I think today’s forecast is going to spare us the worst of the worst,” Lauren Larson, the governor’s budget director, told […]
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 inPolitics and Government
Colorado lawmakers made billions in cuts to finish the budget. Now Gov. Polis may need to make even more.
In the final hours of the lawmaking session, the General Assembly finalized a $30.3 billion state budget after weeks of difficult work to close a $3 billion deficit. Instead of expressing relief at the finish line, the top legislative budget writer issued a warning. “For those of you who haven’t heard the news flash, next […]
Posted inCOVID, Health, Politics and Government
How Colorado lawmakers closed a $3 billion shortfall to balance the budget and why it led to tears
To address a $3 billion shortfall, Colorado lawmakers made a series of drastic spending cuts Thursday and moved close to finalizing a state budget battered by the coronavirus and the paralyzed economy. The legislative budget committee cut $448 million from K-12 education — a 10% cut compared to a year ago. The actual cut is […]
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, Education, Politics and Government
Colorado lawmakers are looking at how to close a $3 billion budget shortfall. Here’s the roadmap.
The impact of the coronavirus pandemic on the $30 billion-plus state budget begins to take shape this week as lawmakers consider massive spending cuts. How much tax revenue Colorado will lose to the paralyzed economy remains uncertain, but the governor’s budget office is projecting $3 billion in lost revenue for the current fiscal year and […]
Posted inPolitics and Government
Hickenlooper faces renewed pressure and questions about his administration’s spending in final months
A little-noticed government account that is paying ongoing legal bills related to an ethics complaint against U.S. Senate candidate John Hickenlooper is facing renewed scrutiny even as the Democrat’s allies continue to block requests for an audit of the spending. In its final months, the former governor’s administration used federal funds from a 2003 account […]
Posted inPolitics and Government
Three budget numbers that will set the tone for the 2020 legislative session in Colorado
Colorado lawmakers are adjusting to a new reality when it comes to the state budget: The boom years are over. A pair of forecasts presented Friday to state budget writers suggests the state’s economy will continue to grow, but it will come at a slower rate, which will limit discretionary government spending in the future. […]