Press Release: Gov. Polis to Address Budget Cuts and AI Regulation in Special Session
DENVER — August 21, 2023 — Governor Jared Polis has announced plans to convene the legislature on August 21 to address a significant $1 billion budget deficit. In a move aimed at mitigating the fiscal shortfall, Polis will implement a hiring freeze for state agencies effective August 27.
The upcoming special session not only focuses on necessary budget reductions but also includes discussions on artificial intelligence (AI) regulations. Last year, lawmakers passed new AI legislation set to take effect on February 1, 2026. This law aims to establish guidelines for the responsible use of AI across various sectors, including employment, healthcare, education, and government. Proponents of the law argue it addresses potential biases and discrimination issues. However, businesses, particularly smaller enterprises, have raised concerns that the regulations may disproportionately impact them rather than the larger corporations that develop AI technologies.
The primary objective of the special session will be implementing cuts amounting to $955 million from the general funds. Democrats attribute this fiscal challenge to recent changes in federal tax policy, as outlined in the budget approved by Congress and signed into law by former President Donald Trump on July 4. Conversely, Republicans contend that the deficit is a consequence of state mismanagement.
As policy discussions evolve, stakeholders await the outcomes of the special session, which aims to provide crucial fiscal solutions while navigating the complexities of emerging technologies.
For further updates, stay tuned.
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