The Democrat-controlled House approved a $25 billion budget Thursday that includes funding increases for education, transportation, and money earmarked for surplus tax refunds – a sign of the state’s continuing economic gains.
Colorado’s $25 billion budget for next year passed the Senate Thursday with nearly every Democrat voting no because ruling Republicans rejected funding for some of their ideas.
Most of Colorado’s $25 billion budget for next year is already set in stone, but lawmakers will get a chance to make minor tweaks before they approve it and send it to the governor later this month.
Colorado budget writers have spent months assembling the state’s spending plan for next year, and this week their fellow lawmakers will begin debating, tinkering, and voting on it
Colorado residents will benefit from the growing state economy with special tax refunds next year, but exactly how much is a question lawmakers will wrestle with over the coming months.
Colorado lawmakers will be presented with a quarterly report on how much tax dollars the state is collecting as they prepare to debate and vote on the annual budget in the coming weeks.
Colorado’s marijuana experiment was designed to raise revenue for the state and its schools, but a state law may put some of the tax money directly into residents’ pockets, causing quite a headache for lawmakers.
Former Gov. Roy Romer gave some uncomfortable and likely unwelcome advice to Gov. John Hickenlooper for his second term = start a movement to repeal TABOR.
Democratic Gov. John Hickenlooper told lawmakers Colorado faces fiscal challenges in the coming years, but he stopped short of directing them to go to voters to allow the state to keep budget surpluses that must be refunded.
Gov. John Hickenlooper’s annual State of the State address Thursday is likely to highlight Colorado’s economic prosperity during the past four years, and focus on looming budgetary challenges because of constitutional spending limits.