Comment on Latest Colorado revenue forecasts – predicting booming economy — raise prospects for budget deal on transportation and education

Latest Colorado revenue forecasts – predicting booming economy — raise prospects for budget deal on transportation and education

Strong consumer spending, coupled with a booming stock market, the federal tax code overhaul and a resurgent oil and gas industry are projected to grow the Colorado state general fund by as much as $1.3 billion next fiscal year, raising hopes that lawmakers this session will make major investments in the state’s two most glaring needs — transportation and schools. The two quarterly revenue forecasts released Monday by the governor’s office and the Colorado Legislative Council both project a significant boost to tax collections this fiscal year and next, leaving the state with more than $500 million more to spend than economists expected during the most recent forecasts three months ago. But, both reports were delivered to the Joint Budget Committee with a note of caution.

 

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