The chair of Colorado’s budget committee is exploring options to reduce the state’s budget by $1 billion, impacting essential services.
Without changing last year’s budget strategies and adding $350 million for public safety, the state is already over a billion in the red. That’s not good news for families or the economy.
Unlike a household budget, Colorado’s budget is mostly about necessities. There’s no fun money to cut. Any reductions will hit essential services hard. Sure, we can make some adjustments, but cutting a billion dollars will have real consequences.
About a third of the budget goes to health care for seniors and vulnerable populations through Medicaid. Another third is for K-12 education. The rest covers prisons, higher education, and human services. It’s a tight squeeze.
Even if we cut smaller departments like Agriculture, we’d still need to find a billion dollars. These aren’t just nice-to-haves; they’re crucial for our state.
Over the past few years, thanks to federal COVID recovery funds, we’ve made some great strides. We’ve built affordable homes, made college debt-free for many families, and fully funded K-12 education for the first time in a decade. But now, we might have to roll back some of that progress.
The governor’s budget proposal suggests cutting $150 million from K-12 education and making significant cuts to higher education and Medicaid. The budget committee is trying to avoid these cuts, but it’s a tough situation.
We’ve found some programs that aren’t delivering the expected results. For instance, a $500,000 grant for improving efficiency in marijuana grows isn’t as effective as other renewable energy measures, so that’s getting cut.
But there aren’t enough programs like that to reach a billion dollars. Cuts are coming, and they won’t be easy.
Why do we have to cut so much? It’s due to TABOR, which imposes a cap on spending even when the economy is doing well. Costs for health care and wages are rising faster than this cap, leading to a structural deficit.
This isn’t just about making small adjustments. Cutting programs means some people will get less support, and that’s a tough reality. We’re looking at cutting nearly half the cost of a nuclear submarine from our budget, which will definitely hurt.
It’s frustrating because, in a strong economy, private companies would reinvest profits for growth. To attract good jobs, we need to improve schools, expand transportation, and build affordable housing.
On the bright side, the budget committee is made up of thoughtful and experienced members from both parties. We’re carefully reviewing programs to see what’s worth keeping and what isn’t. We want to prioritize investments that will benefit our economy and families in the long run.
I’m hopeful that, despite the challenges posed by outdated budget rules, we’ll create a budget that reflects Colorado’s values.
Sen. Jeff Bridges is an Arapahoe County Democrat and chair of the Joint Budget Committee.
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