Colorado faces $3.3 billion state deficit due to pandemic

Colorado News

DENVER (AP) — Legislative economists say Colorado’s tourism-and-energy-dependent economy has been crushed by the coronavirus pandemic.

They said Tuesday a shrinking economy will force lawmakers to make $3.3 billion in cuts to the state budget for the fiscal year that begins July 1. That figure represents a tenth of the state’s total budget and nearly a quarter of its general fund, which is devoted to crucial government services.

The Legislature’s chief economist says Colorado’s economy could shrink by 6% this year. The bipartisan Joint Budget Committee has been examining spending cuts while the legislative session is suspended. Lawmakers are tentatively scheduled to return on May 26.  

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