Colorado lawmakers to debate budget cuts |

Colorado lawmakers to debate budget cuts

DENVER, Colorado ” State lawmakers are set to start debating millions of dollars in cuts to next year’s budget on Monday.

The Joint Budget Committee has recommended more than $700 million in cuts, transfers and accounting moves to make up for an expected decline in tax revenue because of the recession.

State colleges and universities stand to lose $300 million, but some lawmakers want to reverse that cut by taking $500 million from the surplus accumulated by Pinnacol Assurance, the state-created workers’ compensation insurance company. The company is fighting the move.

The proposed budget would also eliminate a property tax break for senior citizens and old-age pension payments to legal immigrants.

Overall funding for public schools would still increase by about 4 percent as required by the state constitution.

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