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Hancock Slashes Denver Budget, Warns Of More To Come

DENVER (CBS4) – Denver Mayor Michael Hancock is slashing the city budget and says more cuts will follow if voters don’t pass a ballot measure in November.

Hancock unveiled his 2013 budget on Wednesday. It calls for $94 million in cuts.

The budget savings come from delaying street repairs, reducing library hours and holding off on buying new police cars. It also includes furlough days for city employees.

“This is not the Denver I want, and I know this is not the Denver I know in my heart that we can be,” Hancock said.

The mayor also pitched a measure on the November ballot that would allow the city and county of Denver to opt out of TABOR requirements. It would let the city keep $68 million in tax revenue that would otherwise be returned to taxpayers under the state’s TABOR law.

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