01-04-2025
New budget introduced at Colorado state Capital that addresses deficit
DENVER (KDVR) — After months of work, the Joint Budget Committee introduced a budget at the Colorado State Capital.
Republican Sen. Barbara Kirkmeyer and Democratic Sen. Jeff Bridges are both on the committee, and both say they maintained their commitment to K-12 education, higher education and Medicaid, despite a $1.2 billion deficit.
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'We funded education by about $200 million more. We funded higher education at about $40 million more and we funded Medicaid provider rates,' Kirkmeyer said.
She's glad her top priorities were protected but wishes that more cuts were made.
'The way we balanced the budget this year though is we swept cash funds, we swept interest off of funds, and moved it over, but those are just one-time savings. They weren't cuts to our general fund operating budget which is a concern,' she said.
Senate Democrats provided a document listing some of the bigger cuts. Here are the top five on their list.
$72M from funding to alternative transportation methods.
$38.5M from the Electrifying School Buses Grant Fund.
$22.2M from reducing Road Safety Surcharge Fees.
$13.7M by reducing Medicaid reimbursement rates for non-emergency medical transportation (NEMT).
$5.0M by ending the High Impact Tutoring Program one year early.
'It has been extremely challenging, and we have made some really painful, really deep cuts,' Bridges said.
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'This is a budget that no one will like and that everyone can be proud of. We have found a way in a year where we have a $1.2 billion deficit to maintain our commitment to K-12 funding, to maintain our commitment to Medicaid, to higher education,' Bridges said.
The budget will now work its way through both chambers and lawmakers hope to have something passed by the end of next week.
After that lawmakers will tackle the School Finance Act. That will determine how those educational dollars are used.
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