For once, some good budget news. Colorado received a $111 million premium on a debt issuance of $500 million, thanks to strong investor demand for state-issued debt. As a result, budget writers say that $100 million in planned cuts to the Colorado Department of Transportation over the next two years — and some additional cuts […]
state treasurer
Posted inBusiness, Politics and Government
To balance budget, Colorado lawmakers add to PERA’s long-term debt and backtrack from landmark deal
Just two years after Colorado approved sweeping pension reforms aimed at wiping out what was then an unfunded $32 billion debt to public sector retirees, state budget writers — facing a financial catastrophe of their own — have temporarily undone a portion of the landmark rescue package. The Joint Budget Committee tentatively decided to eliminate […]
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 inGrowth, Politics and Government, Transportation
To pay for housing and roads, Colorado lawmakers turned to an unusual source: the public’s “lost and found”
Affordable housing advocates had a problem entering the 2019 session: No matter how large Colorado’s state budget became, they just couldn’t compete for dollars with the seemingly insatiable demands of schools, roads and health care. So Claire Levy, a former state budget writer turned policy advocate, sought out money in a place few others bothered […]