Tax rebates or schools? Colo. budget hits impasse

By: Associated Press Email
By: Associated Press Email

DENVER (AP) - Sometimes a little money comes with big new problems, as Colorado lawmakers are finding out a week after hearing the state's finances aren't quite as bad as feared.

Democrats and Republicans in the Legislature announced Friday they've hit an impasse on next year's budget and work on it could be delayed up to a week. The dispute puts two perennial legislative favorites against each other - schools and small businesses.

Democrats say despite slightly higher tax receipts to the state, Colorado should continue asking businesses to give all the sales taxes they collect to the state, instead of holding some 3 percent back as compensation for collecting it. Republicans say “vendor fees” worth $65 million should go back to businesses to promote hiring.

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