Colo. Lawmakers Awaiting New Economic Forecast

By: Associated Press Email
By: Associated Press Email

Denver (AP) Colorado lawmakers are hoping a new economic forecast won't force them to make deeper cuts in the state budget.

Legislative economists plan to release the forecast today. In it, they'll try to predict how much tax revenue the state should expect to get through June, the end of the state's fiscal year.

Economists have said that tax revenue dropped by 2.4 percent between July and February. But that's only one of many factors they're taking into account in trying to predict state revenue.

Making their job even harder is the fact that the bulk of the state revenue, in the form of income tax returns, doesn't come in and get processed until April, may and even June.

So far, lawmakers have been anticipating a $600 million drop in revenues.

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