Colorado lawmakers have introduced a budget plan for 2025-26 that includes significant funding cuts and transfers amounting to $43.9 billion. The plan includes $16.7 billion in general fund money that will come from taxes, and lawmakers will have to find ways to cover a $1.2 billion shortfall.
Senate Bill 206, along with 63 other bills, was introduced to make statutory changes to balance the budget. Among the cuts are transfers totaling $225.2 million from various funds to the general fund. Additionally, $71.4 million will be swept from the multimodal options fund within the Department of Transportation.
Other cuts include $13 million from the State Employee Reserve Fund, the elimination of a property tax deferral program saving $2.5 million, and the discontinuation of the Colorado Household Financial Recovery Pilot Program to save $5 million. The budget also includes halting reimbursements for community health workers under Medicaid to save $2.8 million.
The Emergency Temporary Care for Children program, a grant program for homeless youth, and the School Mental Health Screening program will also see cuts. However, there are also increases in funding, such as $2 million to the Department of Early Childhood.
The budget bill and related bills will be heard in the Senate Appropriations Committee, with public testimony expected. The debate on the budget package will happen later in the week, with a potential final vote by the end of the week.
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Photo credit denvergazette.com
Colorado Senate introduces $43.9 billion budget bill | Latest News
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