Colorado Budget Faces $30 Million Shortfall Before Last-Minute Fix
In a dramatic turn of events on Wednesday, Colorado’s legislative budget faced a sudden $30 million shortfall after the House rejected a proposal tied to the state’s marijuana tax fund. The proposed Senate Bill 268, part of a larger budget-balancing initiative, aimed to stabilize finances by reallocating funds from the marijuana tax cash fund, but faced pushback from progressive House Democrats.
During a session marked by high tension, the House Appropriations Committee, led by Rep. Emily Sirota, removed an amendment that would have transferred $550,000 to a marijuana entrepreneur fund. Advocates like Rep. Michael Carter argued for restoring the funds, emphasizing commitments to communities affected by systemic over-policing. However, Sirota cautioned against jeopardizing essential programs funded by the marijuana cash fund, which has become a vital resource for various state initiatives.
Despite initial resistance, a significant voice vote allowed the Carter amendment to pass, but efforts to reverse it later failed, leading to the eventual budget shortfall. The subsequent chaos raised questions about how state budget managers would address the deficit as the main budget bill approached finalization.
As the day unfolded, House leaders, including Rep. Shannon Bird, expressed concerns about sacrificing critical funding needed for services like housing and youth programs. Outside legislative chambers, Governor Jared Polis’s budget director was seen negotiating potential solutions to the budget crisis.
Ultimately, quick procedural maneuvers allowed the House to reconsider the matter after securing enough votes to pass the amended bill, which alleviated the immediate shortfall. Now approved, it heads to the governor’s desk, marking a crucial, albeit rocky, step toward finalizing Colorado’s fiscal plan for the year ahead.
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Photo credit denvergazette.com
