The Denver Post reports that the Special Session Show wrapped after Democrats plugged about $253 million of a $783 million shortfall by ending tax breaks and other revenue moves. Roughly $530 million still yawns open. That hot potato now rolls to Gov. Jared Polis, who is expected to mix mid-year cuts with a deep dip into reserves. Eleven bills head to his desk. The biggest moneymaker, HB25B-1004, auctions tax credits for a one-time cash hit this year while sacrificing future revenue.
The Post also notes the partisan script. Democrats blame the new federal tax bill and say their moves avert cuts to schools, Medicaid and hospitals. Republicans call it tax increases and vow possible TABOR fights. Lawmakers delayed Colorado’s AI rules until late June, shuffled a small slice of wolf dollars, tweaked school-meals ballot language, and approved Medicaid payments to Planned Parenthood (read – taxpayer dollars for yet more abortions). The Joint Budget Committee meets again to hear the governor’s cut plan.
The Bullet Point Brief
- One-third patched. About $253 million in new revenue. Roughly $530 million remains for Polis via cuts and reserves. That is the score.
- How they did it. Five revenue bills target tax incentives for businesses and high-income filers. HB25B-1004 auctions credits for about $100 million now and a future haircut (read – they kicked the can down the road).
- Cuts kicked upstairs. Democrats “softened the blow.” Actual reductions were largely punted to the governor and the rainy-day fund.
- Blame game locked in. Dems: D.C. “cut” state revenue. GOP: you raised taxes on job creators and skipped spending cuts. TABOR challenges likely.
- Side quests. AI law delayed to late June. Wolf dollars rebalanced. Medicaid allowed to pay Planned Parenthood. School-meals cash may flow to general food aid if voters agree.
My Bottom Line
So the curtain falls on the special session and we got… one-third of the way there. That is it. Faced with a massive hole, the majority did what the majority does. They yanked business tax breaks and called it “softening the blow.” Did they actually cut spending. I cannot find it. They just raised taxes and slapped a “for the kids” sticker on the bill.
And then there is Sen. Jeff Bridges with the line of the week: the feds “cut $1.2 billion in revenue from the state with a stroke of a pen.” Memo to the Capitol. It was not your money to begin with. When taxpayers keep their earnings, that is not a “cut” to your allowance. That is freedom doing what it does. The squealing you hear is not compassion. It is the sound of government seeing a smaller trough. Meanwhile the governor gets the machete and the rainy-day umbrella, because the legislature wanted the headlines without the hard choices. Enjoy the encore.
