Right off the top this week, I asked our Insiders to assess where Colorado stands financially after the special legislative session which was called to find a path towards correcting the state’s $800 million deficit. Lawmakers voted to roll back tax breaks for businesses. Governor Polis signed off on those (and other bills) and then announced spending cuts to the current budget. And the third part of the plan involves taking some money from the state’s reserves.
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In regards to the $153.2 million the state will hold on to from rolling back tax breaks, plus the $100 million from selling tax credits, VP of Strategic Initiatives at the Colorado Chamber of Commerce Ed Sealover wonders if this needed more discussion before it was voted upon: “I want to give you one example. Legislators eliminated what’s called the Regional Home Office Credit. That goes to insurers who have at least 2.5% of their workforce here in the state.
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