Colorado’s $34.1 billion proposed state budget restores deep cuts made last year to K-12 and higher education, provides more money to help students who have traditionally struggled to complete college, and creates a substantial reserve for K-12 schools that could lay the groundwork for future reforms — if it’s not needed to weather a prolonged recovery.
The proposed fiscal year 2021-22 state budget, introduced in the Colorado General Assembly Monday, stands in stark contrast to the severe austerity of last year’s budget document. A year ago, Colorado was under stay-at-home orders as it battled the first wave of the coronavirus pandemic, and lawmakers had to fill a $3 billion budget hole.
But while the economic impacts of COVID have been severe, Colorado collected much more tax revenue than budget writers had expected. Much of that money was rolled over and is now available for the coming fiscal year.
Scroll down for more from UB