Colorado House speaker calls for new budget rules
DENVER (AP) – GOP House Speaker Frank McNulty says state revenues are too optimistic and he’s calling for additional cuts in next year’s budget.
Lawmakers say they will have to cut at least $1.1 billion from the estimated $19.1 billion budget beginning July 1, but McNulty says they need to add another $195 million in cuts now.
He says lawmakers are being forced to cut $300 million in just four months this year because estimates were overly optimistic. He says lawmakers should have a cushion in case the estimated revenue is off next year.
The House Finance Committee is expected to take up the proposal on Tuesday.
Democrats had no immediate reaction to the proposal.
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