Weekly Policy Update: Colorado Budget and Forecast, plus a True Transparency update
By: Colorado BioScience Association Date: 03/30/2018
CO State Budget & March Forecast
Transportation, Education, PERA, and opioid addiction are a few of the areas that will receive funding in the $28.9 billion state budget package passed by the Colorado House of Representatives this week. The budget will now go to the CO State Senate where it will be debated over the following week.
Every December and March, the state issues an updated budget forecast based on policy changes and actual performance since the previous forecast. Strong consumer spending, the stock market, and changes in federal tax policy have projected to grow Colorado’s state general fund by as much as $1.29 billion next fiscal year, attributing approximately $250 million to the change in federal tax policy, which will result in the state collecting more income tax revenue.
Whenever there is a surplus of money—or, conversely, when money is scarce—lawmakers and interest groups all pursue funding for their priorities. Click here to learn more about the forecast and to see a sample of the Joint Budget Committee’s funding discussions for the 2018-19 CO State Budget
Be sure to check outFocus Colorado: Economic and Revenue Forecast for additional information on the forecast.
For a more detailed look at these, and other issues, please read Jennifer’s monthly policy update in March’s Focus newsletter.
CBSA continues to advocate against House Bill 1260, Prescription Drug Price Transparency This week House Bill 1260, Prescription Drug Price Transparency passed out of House Appropriations on a party line vote.It is scheduled to be heard on the House Floor on April 3rd.
Read our recap of the recent hearing on the bill and CBSA’s testimony. And to read our most recent True Transparency campaign post click here.
We need your help to oppose this legislation. Please use this form to contact your legislator and ask for a NO vote.