$625 million Colorado debate underway | VailDaily.com

$625 million Colorado debate underway

DENVER, Colorado ” Colorado lawmakers are getting ready to debate plans to cut $625 million from this year’s state budget.

Members of the House and Senate plan to hold a joint session Monday morning to get a briefing on the budget problems.

The money has to be cut because tax collections are expected to drop because of the recession.

The budget committee has recommended balancing the budget largely by taking $244 million from funds set up to pay for specific programs and withdrawing about $150 million from the state’s reserve fund. They’re also counting on getting over $100 million in extra Medicaid funding from the federal stimulus package.

About $90 million of the recommended cuts come directly from state agencies, mainly public schools and higher education.

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