Colorado faces $3.3 billion hit to 2020-21 budget
By Blair Miller, Meghan Lopez
Colorado lawmakers are looking at a budget shortfall of about $3.3 billion for the 2020-21 fiscal year including carryover from this year due to the effects of the coronavirus outbreak, according to a Legislative Council Staff economic forecast released Tuesday.
State lawmakers said Monday they had expected to slash between $2 billion and$3 billion from the budget – about a quarter of the General Fund spent last year.
But the shortfall reported Tuesday by the nonpartisan Legislative Council to the Joint Budget Committee is forecast to be $3.3 billion, which includes nearly $900 million from FY19-20 – though that number is actually slightly lower since Gov. Jared Polis cut more than $200 million from this year’s budget last month.