Colorado has the benefit of wiggle room stemming from the whole TABOR refund thing. Normally they refund several hundred dollars per year to all residents of the state in unspent tax money. This year those refunds are expected to only be around $20 per person, and then are expected to drop to nothing at all for the foreseeable future.
So while Colorado can handle this type of thing once, it also means that we are blowing our safety net in a fairly permanent way. With little means to make up for it either, as the TABOR laws make it quite difficult for the state to raise taxes when necessary.
Its a system that was fairly well designed in some ways, at least for a world where shit was stable. But in the new normal of ridiculousness and unexpected costs it is probably going to bite the state in the ass pretty hard. Its just going to be a delayed effect
It sounds like Colorado is going to try to cover the shortfall from state funding. I wonder what other states will be able to.
Colorado has the benefit of wiggle room stemming from the whole TABOR refund thing. Normally they refund several hundred dollars per year to all residents of the state in unspent tax money. This year those refunds are expected to only be around $20 per person, and then are expected to drop to nothing at all for the foreseeable future.
So while Colorado can handle this type of thing once, it also means that we are blowing our safety net in a fairly permanent way. With little means to make up for it either, as the TABOR laws make it quite difficult for the state to raise taxes when necessary.
Its a system that was fairly well designed in some ways, at least for a world where shit was stable. But in the new normal of ridiculousness and unexpected costs it is probably going to bite the state in the ass pretty hard. Its just going to be a delayed effect