DENVER— Today, the Colorado Legislative Council and the Office of State Planning and Budgeting released their quarterly revenue forecasts to the Joint Budget Committee. The forecast prepared by the Legislative Council showed the General Fund is expected to grow $748 million over the previous fiscal year, and if the Tax Cuts and Jobs Act is passed by Congress this week, that number could be as high as $962.7 million for 2018-19 spending.
Additionally, the forecast indicated Colorado’s economy is expected to continue to grow at a moderate pace through 2019, and remains one of the strongest in the nation.
House Minority Leader Patrick Neville (R-Castle Rock) released the following statement regarding the forecast:
“Roads are our top priority, and there is no reason why nearly all of this new revenue should not go to widening highways and expanding primary arteries. I have heard the governor and Democrat leadership say they agree roads are their top priority as well. With all this new revenue for the upcoming budget, it’s time to see if they are willing to walk-the-walk, so that we can relieve our citizens of congestion and truly unleash our economy.”