tabor refunds
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Colorado’s Medicaid overspending contributes to $1 billion hole in state reserve
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Colorado’s budget writers on Thursday examined a $1 billion hole in reserves for the next fiscal year, a deficit aggravated by overspending by the state agency that administers Medicaid. The Joint Budget Committee, which received revenue forecasts that will shape its decisions for the state’s 2025-26 spending plan, started its review by looking at the…
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IRS won’t tax Colorado’s TABOR refunds this year, Michael Bennet confirms
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Colorado taxpayers can breathe a sigh of relief after U.S. Sen. Michael Bennet confirmed on Tuesday that the Internal Revenue Service won’t treat refunds issued under the state’s Taxpayer’s Bill of Rights as taxable income this year. An aide to the Colorado Democrat said the lawmaker secured the commitment in a meeting with the IRS…
