State Budget Concerns

By: Associated Press
By: Associated Press

Economists at the state legislature are warning that the state may have to cut more money from the budget when lawmakers get back to work next month.

The latest figures show that a $285 million cut could be needed -- $51 million more than first thought.

Tax revenues are up but the Taxpayer's Bill of Rights, known as TABOR, prohibits the state from using any of that additional revenue to pay for services.

So lawmakers will have to give back money to taxpayers at the same time they find places to cut in the budget.

Lawmakers are considering tinkering with TABOR, including keeping more of the money that would go to TABOR refunds. Without any changes, the legislative forecast shows that taxpayers will share a $161.3 million refund next year.

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