Colorado governor to update state budget problems | VailDaily.com

Colorado governor to update state budget problems

DENVER, Colorado – Colorado Gov. Bill Ritter will speak Thursday on the state’s efforts to close a $249 million shortfall in the final days of the budget year.

On Monday, legislative economists said tax collections are still dropping because of the recession, and lawmakers overspent by $249 million.

Because the budget year ends Tuesday, the tentative plan is to borrow from next year’s budget and deal with a combined shortfall of $384 million in the new budget year.

Ritter said earlier he wanted to talk to lawmakers before proposing ways to plug that hole.

The chairwoman of the Joint Budget Committee, Sen. Moe Keller, has said the possibilities include raising college tuition and cutting about $100 million from kindergarten through 12th-grade schools.