State Budget

By  | 

Lawmakers have unveiled a much-anticipated plan to bail Colorado out of its budget crisis.

The plan offers voters a long-term tax cut if they will agree to give up some of their refunds under the Taxpayer's Bill of Rights.

House Speaker Andrew Romanoff says his proposal would provide a long-term solution to the state's problems.

He says unless lawmakers come up with a plan that voters will approve, the state will be forced to make deeper cuts in education and other programs.

Governor Owens says he's disappointed with the plan, which ignores his suggestion that Democrats put a cap on the amount of money they will take from taxpayers.

Owens, a Republican, says he is still willing to work with Democrats -- warning them that if the plan is not acceptable to voters, the state will continue to face budget shortfalls.