revenue forecast
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Economists: Colorado budget improves slightly, but deficits still loom
State economists reported a stronger-than-expected bump in general fund revenue driven largely by higher individual income tax collections, yet warned that Colorado remains on track to begin the next fiscal year with a sizable shortfall. State economists upgraded “significantly” the amount of general fund revenue the state is taking in this year from their March…
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Colorado revenue forecast worsens, pushing budget shortfall to nearly $1.5B
The latest revenue forecasts from economists at the state Capitol show that the state’s budget predicament has worsened — by hundreds of millions of dollars more. That, in turn, means cuts programs and services in next year’s fiscal budget will go much deeper. The state’s fiscal predicament also means no refunds for Colorado residents. Economists…
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Colorado revenue forecasts show big TABOR refunds on the horizon, but inflation surges
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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Colorado surplus could top $1.2B, according to latest revenue forecasts
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
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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State revenue forecasts show uptick in economy, tax dollars
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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December revenue forecasts begin to look at impact of federal tax law on Colorado
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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Colorado’s economy is booming, though some constraints could be coming
Colorado’s economy has grown for the past eight years since the economic downturn, and it’s on a path towards the longest expansion in the state’s history, lawmakers heard Tuesday. State budget writers received an update from the governor’s office and legislative staff on the June revenue forecast for the state. Colorado is currently in its…
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? Spending is the state budget issue for GOP JBC member
A $28.5 billion state budget proposal that calls for cuts to K-12 education, transportation and hospitals to close a projected budget gap of half a billion dollars indicates over spending, not a lack of revenue, according to a Republican member of the Joint Budget Committee. State Rep. Bob Rankin of Carbondale said, in light of…