DENVER ~ In a recent economic forecast released by the Governor's Office of State Planning and Budget, it has been revealed that Colorado's revenue is still exceeding the cap set by the Taxpayer's Bill of Rights (TABOR). The March 2025 forecast shows that despite concerns over a weaker economy due to President Trump's tariffs, the state's General Fund balance is expected to remain positive.

Governor Polis expressed his concerns over the impact of these tariffs on Colorado's economy, stating that they are causing market chaos and hurting business investment. He also highlighted fears of rising inflation and a potential economic recession. However, he also noted that despite these challenges, the projected General Fund balance is good news for the state in what is expected to be a difficult budget year.

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According to the forecast, revenue subject to TABOR is predicted to exceed 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. Additionally, the General Fund balance is projected to be $1,122 million above the statutory reserve in FY 2023-24.

The full forecast, along with accompanying slides and supplemental materials, can be viewed by the public. This news provides some reassurance for Coloradans amidst ongoing economic uncertainty caused by external factors such as tariffs.

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