"Colorado's Special Session on Property Taxes Raises Budget Concerns and Sparks Senate Dispute"

Lawmakers in Colorado are facing concerns over the state's budget as they convene for a special session on property taxes. The state's Joint Budget Committee was presented with an independent assessment of Governor Jared Polis' proposed spending plan, revealing a potential $44 million budget shortfall this year and an additional $330 million shortfall next year. Lawmakers are considering using $200 million from the general fund to offset property tax cuts, but this could further strain the budget. Democrats oppose tapping into state reserves, while Republicans support it. The budget concerns come as federal pandemic relief funds dry up and lawmakers try to fulfill their promise of fully funding Colorado's school finance obligations.