office of state planning and budgeting
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Colorado revenue forecasts show big TABOR refunds on the horizon, but inflation surges
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Colorado’s full economic recovery is still on pace, but inflation, particularly in housing prices, is taking a bite, the March revenue forecast shows. Little changed in forecasted revenues for 2022-23 between last December’s forecast and the March numbers. Those extra dollars are largely feeding into the TABOR surplus, adding to the already-substantial tax refunds expected…
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Polis’ revised budget proposal includes full-day kindergarten plan (VIDEO)
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Colorado Gov. Jared Polis won’t present his budget proposal to the Joint Budget Committee until Wednesday — but Tuesday he and his staff gave a sneak peek to Capitol reporters. His predecessor, former Gov. John Hickenlooper, presented his budget proposal for the 2019-20 fiscal year on Nov. 1. It’s standard for a new governor to…
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Colorado surplus could top $1.2B, according to latest revenue forecasts
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Colorado lawmakers could have between $956.8 million and $1.22 billion in surplus dollars to put toward education, transportation and other priorities in the 2019-20 budget, according to forecasts Thursday from state economists. The Governor’s Office of State Planning and Budgeting (OSPB), in its latest revenue forecast, said the state’s economic expansion “has continued at a healthy…
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Colorado revenue forecast: Severance taxes on the rebound
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Colorado economists reported Wednesday that the state’s severance tax revenues from oil and gas operations – in the doldrums for the past several years due to low oil prices – are on the rebound in a big way. State lawmakers also can anticipate another healthy year of corporate and individual income tax growth, and that may…
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Hickenlooper’s long-time budget director to leave
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Henry Sobanet, who has led the governor’s Office of State Planning and Budgeting (OSPB) for the past seven years, will leave at the end of June, according to an announcement Tuesday from Gov. John Hickenlooper. Sobanet has been the go-to person on the state budget for several gubernatorial administrations; he also was the budget director for…
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State revenue forecasts show uptick in economy, tax dollars
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DENVER – The news about Colorado state revenues is either good, or very good, according to the number-crunchers at the state Capitol who keep an eye on Colorado’s revenue picture. In both cases, the news was good enough for Gov. John Hickenlooper to hike the amount of money he wants to put into transportation, both…
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Watkins moves into chief economist job at Colorado General Assembly
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When Todd Herreid retired from the General Assembly’s Legislative Council in October, it set off a chain reaction that has now put Kate Watkins into the hot seat as the council’s chief economist. Last week Watkins led the council’s economists through her first presentation to the Joint Budget Committee on the state revenue forecasts. She…
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December revenue forecasts begin to look at impact of federal tax law on Colorado
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While Colorado’s economy is still on the upswing, state economists are waiting to see what comes out of Washington, D.C., in the weeks and months ahead, and how federal tax reform legislation will affect Colorado’s coffers. But the news looks good for possible funding bumps for transportation, one of the major issues left behind in…
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This is how rumors get started
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Henry Sobanet, the governor’s go-to on the budget, is widely regarded as the best numbers guy in the state when it comes to the budget and complex financial issues. Sobanet works equally well with Republicans, having served as budget director for Gov. Bill Owens a decade ago, and in the same role for the past…
