Colorado lawmakers are facing tough decisions as they look to make more than $1 billion in cuts to the state’s $16 billion budget. The cuts are being made through a combination of reductions and eliminations of various programs, with a focus on finding efficiencies and prioritizing spending.
Lawmakers have described the process as gut-wrenching, with emotions running high as they try to protect programs for children and vulnerable Coloradans. The proposed cuts will impact a wide range of programs, from school bus electrification to promoting alternate transportation.
The state’s budget for the upcoming fiscal year, which begins on July 1, will have long-lasting effects on state spending. Lawmakers are grappling with the constraints of the Taxpayer’s Bill of Rights (TABOR), which limits state spending based on population growth and inflation. This has led to structural spending issues and the need for significant cuts this year.
Lawmakers are already considering ways to break out of the deficit spiral, including zero-based budgeting and potentially exempting some taxes from TABOR limits to pay for programs like Medicaid. However, any changes would require voter approval, and previous attempts to change TABOR have been rejected by voters.
As lawmakers continue to navigate these challenges, there is a recognition of the need to find a path forward that balances fiscal responsibility with the needs of the state’s residents. The ongoing debate over TABOR and state spending will likely continue as lawmakers grapple with making difficult decisions to address the budget shortfall.
Source
Photo credit www.denverpost.com
