Colorado has reached the era of budget surpluses after years of deficits. But state constitutional spending restrictions mean those surpluses set up an ideological battle between Democrats and Republicans.
Colorado residents will get tax refunds because the state’s improving economy means government is collecting more revenue than it is allowed to keep under the voter-approved Taxpayer Bill of Rights.
Colorado is among the top 10 states most reliant on income taxes for revenue, according to a new report concluding that income inequality is contributing to slower economic growth nationally.
Colorado lawmakers agreed Wednesday to budget $21 million for an aerial firefighting fleet designed to spot and attack wildfires faster, a response to historic back-to-back wildfire seasons.
As Colorado’s economy continues improving, lawmakers are beginning to talk about constitutionally mandated refunds to taxpayers in the coming years.
Large, destructive wildfires and historic flooding put a dent on Colorado’s finances, influencing Gov. John Hickenlooper’s latest budget proposal Friday, but the state is doing well enough that colleges and schools will see more funding.
Colorado’s economy continues to outperform expectations, spurred on by tax revenue from stock sales, although unemployment remains high, state economists told lawmakers Monday.
Colorado Gov. John Hickenlooper’s budget proposal released Thursday includes more funding for education, more Medicaid spending, and pay increases for state employees for the first time in five years.
Colorado’s revenue picture is continuing to improve at a faster-than-expected rate because of taxes on stock sales and oil and gas development, state economists said Thursday, but they predicted growth will slow because of federal and global uncertainties.
Colorado is facing accusations of misusing money from medical marijuana patients.