Colorado faces $6.8 billion hit to budget
By John Frank
THE COLORADO SUN
he economic crunch from the coronavirus means Colorado will need to immediately cut as much as $3.1 billion in state spending, an unprecedented 25% budget reduction that will force lawmakers to repeal entire initiatives and make deep reductions in education and health care.
The budget hit for the fiscal year that begins July 1 is just the beginning. A forecast from legislative economists presented to lawmakers Tuesday expects the coronavirus to make a $6.8 billion dent in state tax revenue over the next three years when compared with projections from December.
The financial landscape is worse than lawmakers expected. Now Demoratic leaders are considering major cuts to local school districts and reductions in the government workforce unless the state receives more federal aid or raises revenue with tax and fee increases.