6 numbers to know about Colorado's wobbly fiscal outlook
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Colorado's economy is teetering as tariffs, potential federal budget cuts and the possibility of a recession buffet the state's fiscal picture.
State of play: Two independent forecasts presented to lawmakers Wednesday are weighted to the downside and anticipate only minimal economic and job growth in the coming year.
What they're saying: "The chaos and uncertainty caused by Washington [loom] large over today's economic forecast," legislative budget committee chair Jeff Bridges (D-Arapahoe County) said in a statement.
Zoom in: Here are the key numbers setting the scene.
$1 billion: The potential negative impact on the state budget if Congress approves the House version of the reconciliation bill, per the governor's budget office.
50%: The chance for a recession, according to the governor's office, up from previous estimates in March of 40%.
- Gov. Jared Polis blamed President Trump's tariffs for the economic uncertainty and the rising chances of a recession.
800: The decrease in the federal workforce in Colorado, a 1.4% drop in the first four months of the year, according to nonpartisan legislative economists.
4.8%: The current unemployment rate in Colorado. It exceeds the 4.2% national average.
- This is the first time in the last 25 years that the state's unemployment rate exceeded the national average for a sustained period, legislative analysts said.
Zero: The chance for refund checks under the Taxpayer Bill of Rights in tax years 2025 and 2026, legislative economists report.
$698 million: The starting budget deficit for the 2025-26 fiscal year if lawmakers continue the trajectory of spending from the current year, per an estimate from legislative staff.