Colo. revenue continue to grow, economists say
March 19, 2013
DENVER – Economists say taxes on stock sales continues to be an economic driver in Colorado and the state’s revenue is expected to be higher than expected this budget year.
Economists from Gov. John Hickenlooper’s office say the tax receipts are expected to be $548.2 million, or 7.1 percent higher, this budget year than the prior year. The state’s general fund is expected to be $8.3 billion for the fiscal year that began in July.
The quarterly forecast released Monday afternoon will play a key role in the upcoming debate over the budget. Lawmakers typically give final approval to the budget next month.
Recent forecasts have shown a trend of steady growth. The general fund now exceeds the pre-Great Recession peak of $7.7 billion in 2007.