{"id":2449006,"date":"2019-09-22T11:16:36","date_gmt":"2019-09-22T17:16:36","guid":{"rendered":"https:\/\/www.aspentimes.com\/?p=313253"},"modified":"2019-09-22T11:16:36","modified_gmt":"2019-09-22T17:16:36","slug":"forecasts-colorado-economic-growth-still-strong-but-risks-remain","status":"publish","type":"post","link":"https:\/\/alwaysmountaintime.com\/kspn\/local-news\/forecasts-colorado-economic-growth-still-strong-but-risks-remain\/","title":{"rendered":"Forecasts: Colorado economic growth still strong, but risks remain"},"content":{"rendered":"<p>DENVER (AP) \u2014 High employment and consumer spending are keeping Colorado\u2019s economy strong, but government economists said Friday they\u2019re still watching for slower growth or even a recession in years ahead due to a weakening global economy and trade disputes.<\/p>\n<p>Both legislative and executive branch economists presented their quarterly economic forecasts to the Legislature\u2019s Joint Budget Committee, charged with crafting the state\u2019s annual budget.<\/p>\n<p>Colorado Politics&nbsp;<a href=\"https:\/\/www.coloradopolitics.com\/news\/premium\/colorado-economists-offer-positive-outlook-for-state-but-warn-of\/article_98e743c6-dbb8-11e9-b384-af894888b848.html\">reported<\/a>&nbsp;that legislative analysts expect growth to slow in a few years and that current growth is restrained by a tight labor market. Uncertainties over U.S. trade policy and global slowdowns also are factors, they said.<\/p>\n<p>\u201cWe\u2019re not forecasting a recession, but risks are elevated,\u201d said economist Meredith Moon.<\/p>\n<p>Gov. Jared Polis\u2019 Office of State Planning and Budgeting estimated that general fund revenue grew by 7.3% in the fiscal year that ended June 30 and would grow 4.1% in fiscal year 2019-20, which began July 1.<\/p>\n<p>State revenues are expected to exceed spending limits set by the constitutional Taxpayer\u2019s Bill of Rights by $428 million in 2018-19, by $348 million in 2019-20, and by $552 million the following fiscal year, the office said. The legislative forecast put the 2019-20 surplus at $428 million.<\/p>\n<p>Under TABOR, the 2018-19 surplus is to be refunded by reimbursing municipalities for the state\u2019s senior homestead property tax exemption and by reductions in the state income tax.<\/p>\n<p>TABOR sets an annual income limit that can trigger tax refunds based on a formula that involves population and inflation. Critics say that limit has hurt education and transportation investment. Supporters credit it for the state\u2019s strong economy.<\/p>\n<p>In November, voters will decide whether to allow the state to keep excess revenues permanently. Proposition CC was referred to the ballot by the Democrat-controlled Legislature. A companion measure would direct the state to spend excess revenue on education and roads.<\/p>\n<p><a href=\"https:\/\/www.aspentimes.com\/news\/forecasts-colorado-economic-growth-still-strong-but-risks-remain\/\" target=\"_blank\" rel=\"noopener noreferrer\">via:: The Aspen Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DENVER (AP) \u2014 High employment and consumer spending are keeping Colorado\u2019s economy strong, but government economists said Friday they\u2019re still watching for slower growth or even a recession in years ahead due to a weakening global economy and trade disputes. Both legislative and executive branch economists presented their quarterly economic forecasts to the Legislature\u2019s Joint [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-2449006","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-local-news"},"acf":[],"publishpress_future_action":{"enabled":false,"date":"2026-06-27 03:43:22","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"KSPN The Valley&#039;s Quality Rock","distributor_original_site_url":"https:\/\/alwaysmountaintime.com\/kspn","push-errors":false,"_links":{"self":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/posts\/2449006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/comments?post=2449006"}],"version-history":[{"count":0,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/posts\/2449006\/revisions"}],"wp:attachment":[{"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/media?parent=2449006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/categories?post=2449006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alwaysmountaintime.com\/kspn\/wp-json\/wp\/v2\/tags?post=2449006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}