Owens Vows 'No Compromises' in Last State of the State Address

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Gov. Bill Owens vows he won't compromise on his principles during his final year in office, and won't hesitate to use his veto pen if lawmakers push the envelope.

Owens is delivering his final State of the State address to a joint session of the Legislature in Denver at this hour. The G-O-P governor will be out of office by this time next year because of term limits.

Owens says he'll work with Democrats who control the House and Senate, but won't be a lame duck and promises he'll veto bills like the 47 measures he rejected last year.

The governor says he wants to prioritize how an estimated $4 billion in tax surplus refunds should be spent over the next five years to fix the budget and restore programs that have been cut.

Owens says he also wants to fix the state pension program -- which faces a $12.8 billion shortfall and support limited reforms on illegal immigration.

The two-term governor says he's been working on the speech since last fall.