Colorado budget committee finalizing millions in cuts
DENVER, Colorado ” Lawmakers who draft the state budget are finalizing millions of dollars in cuts to balance this year’s spending plan.
The Joint Budget Committee is set to meet Wednesday. Members plan to decide how to close the remaining $250 million shortfall.
One option is taking $150 million from the state’s reserve fund and spending it on state services.
Colorado could also get more than $100 million in Medicaid funding from the federal stimulus package. Committee members must decide whether to rely on that money to balance the budget.
Members want to make those final decisions so all the details can be worked out by next week. That’s when the committee’s proposed cuts will be debated in the Senate and then the House.