DENVER ~ In Denver, the Governor's Office of State Planning and Budgeting has released the September economic and revenue forecast for Colorado. According to the forecast, the state can expect steady economic growth in the coming months, although at a slower pace than previously projected. This is despite concerns over international trade policies and geopolitical conflicts.

Governor Polis addressed these concerns, stating that Coloradans are facing higher costs due to "reckless" trade policies implemented by President Trump and the ongoing war with Iran. He acknowledged that rising gas and grocery prices have put a strain on families, forcing them to make tough choices between filling their tanks or filling their fridges. However, he reassured citizens that Colorado's economy remains stable and his administration will continue to work towards lowering costs for families.

The OSPB projects that economic growth will continue but at a slower rate than initially anticipated. The growth rate for 2026 is expected to be 2.1%, similar to that of 2025. This is attributed to strong consumer spending and business investments acting as a buffer against the impact of global conflicts and trade uncertainty. In terms of housing, Colorado's price growth is lagging behind the rest of the country, but there has been an increase in housing permits in 2025 which is expected to continue into 2026.

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Preliminary estimates from the Office of the State Controller suggest that revenue will fall $175.9 million below the TABOR cap in Fiscal Year (FY) 2025-26. However, there is good news for future years as TABOR refunds are estimated to be $244.4 million in FY 2026-27 due to economic growth, consumer spending, and corporate profits driving higher collections. The OSPB also anticipates surpluses of $198.9 million in FY 2027-28 and $334.2 million in FY 2028-29.

In addition, the OSPB expects a balanced budget in FY 2026-27 with $65.2 million in excess of the 13 percent General Fund statutory reserve. The forecast, along with slides and supplemental materials, can be viewed by the public.

Overall, while there are concerns over international trade policies and geopolitical conflicts, Colorado's economy remains stable and is expected to continue growing at a slower pace. The state also has a positive outlook for future years with anticipated surpluses and a balanced budget.

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