Colorado lawmakers get revenue update before finishing budget
Last Updated: 67 days ago
DENVER - Colorado lawmakers are getting the latest tax revenue projections for the state as they get ready to introduce the state's budget for next year.
The information state economists present to lawmakers Monday afternoon will play a key role in the upcoming debate over the budget. Lawmakers typically give final approval to the budget next month.
Recent forecasts have shown a trend of steady growth. The latest figures indicate the state's general fund revenue for the current fiscal year that began in July was projected to be $8.1 billion. The general fund now exceeds the pre- Recession peak of $7.7 billion in 2007.
Last fall, Colorado Gov. John Hickenlooper's budget proposal included more funding for education, more Medicaid spending, and pay increases for state employees for the first time in four years.
The governor said the increases were modest because the economy is still recovering.
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