Lawmakers continue talks on Colorado budget
DENVER ” State lawmakers are continuing talks about how to balance Colorado’s budget.
Between the current year and the next fiscal year that begins July 1, lawmakers must cut $1.4 billion because of an expected drop in tax revenue.
Lawmakers met in party caucuses Wednesday to review recommendations from the Joint Budget Committee.
Republican lawmakers are protesting one committee plan ” taking $500 million from the state-created insurance company Pinnacol Assurance. Without it, committee members say they’ll have to cut $300 from higher education.
Gov. Bill Ritter says the state should avoid cutting higher education in case tax revenues don’t drop off as much as legislative economists predict. He says any possible Pinnacol money could be held in reserve in case it’s needed later.