Colorado expects less revenue, halts some tax credits

(The Center Square) – Colorado is pulling back on certain tax credits as the state anticipates a drop in revenue this fiscal year.

This is according to findings in December’s Economic Forecast, which was recently presented by the Governor’s Office of State Planning and Budgeting to the Legislature’s Joint Budget Committee.

That forecast found that, in fiscal year 2025-2026, revenue is expected to drop below the state-mandated Taxpayer’s Bill of Rights cap.

This will have a tangible impact on Coloradans. It means they will no longer receive refund checks from TABOR, which normally returns tax surpluses to the state’s citizens.

Colorado Gov. Jared Polis, a Democrat, is pointing the blame at Republicans.

“The White House’s destructive trade wars continue to hurt our economy, skyrocket costs, and worsen inflation,” he said. “Despite this, we ar...