Story perspectives

Colorado Lawmakers Tackle $1 Billion Budget Deficit Crisis

8/17/2025

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Summary

Story summary

Colorado lawmakers will meet on August 21 to discuss a nearly $1 billion budget deficit linked to the One Big Beautiful Bill Act.
The budget has increased significantly, impacted by the Taxpayer’s Bill of Rights (TABOR) limiting spending growth.
Governor Jared Polis proposes using budget reserves and tax adjustments to address the deficit.
The actual budget shortfall is estimated at $680 million to $783 million, stemming from decreased state tax revenue.

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Story summary

Colorado lawmakers will meet on August 21 to discuss a nearly $1 billion budget deficit linked to the One Big Beautiful Bill Act.
The budget has increased significantly, impacted by the Taxpayer’s Bill of Rights (TABOR) limiting spending growth.
Governor Jared Polis proposes using budget reserves and tax adjustments to address the deficit.
The actual budget shortfall is estimated at $680 million to $783 million, stemming from decreased state tax revenue.