State forecast shows revenue still outpacing TABOR cap
DENVER - Today, the Governor’s Office of State Planning and Budget released its March 2025 Economic Forecast.
“Today’s forecast confirms what Coloradans are already experiencing. The President’s devastating tariffs are creating market chaos, hurting business investment, and damaging our economy, all while increasing fear over rising inflation and an economic recession. This economic forecast shows that Trump’s tariff tax is bad for Coloradans and businesses. Despite the expectation of a weaker economy due to tariffs, the projected General Fund balance is still good news in a difficult budget year,” said Governor Polis.
Revenue subject to TABOR is expected to remain above the cap by $301.5 million in FY 2024-25, $642.7 million in FY 2025-26, and $775.8 million in FY 2026-27. Under this forecast, the General Fund balance is projected to be $1,122 million above the statutory reserve in FY 2023-24.
View the forecast, slides, and supplemental materials.
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