Colorado Governor Unveils $51.3 Billion Budget Proposal: $18.9 Billion General Fund and Over $650 Million in Medicaid Growth Limits
Colorado Governor Jared Polis on November 2 unveiled his final state budget proposal, totaling $51.3 billion for the fiscal year beginning July 2027, including an $18.9 billion general fund, up 2.6%. The proposal, submitted to the legislature's Joint Budget Committee, comes as the state faces a budget shortfall of roughly $1.6 billion.
The plan caps growth in Medicaid spending at 4.3%, well below the roughly 15% growth currently projected, a limit worth about $664.6 million in savings. K-12 education funding would rise by $212.1 million to about $10.4 billion. Polis also proposes sending gaming and tobacco/nicotine tax increases to voters on the 2027 ballot; together they would raise about $128.9 million a year for childcare and preschool. Converting the state workers' compensation insurer Pinnacol Assurance is expected to yield $200 million to $400 million, split 50% to reserves, 25% to the State Education Fund and 25% to a childcare fund. The proposal also includes $10 million in incentives to attract a Space Academy to Colorado.
Polis is term-limited and leaves office in mid-January 2027. The Joint Budget Committee is scheduled to take up the proposal on November 12, after which the legislature will shape the final budget.
Published by GSM · USA (original Chinese edition)
Photo: 科罗拉多州议会大厦，Denver（资料图）。CC BY 2.0，xiquinhosilva摄，经 Wikimedia Commons。 / The colorado state capitol in denver (file photo). CC BY 2.0, by xiquinhosilva, via Wikimedia Commons.
