Connect with us

Colorado

As new tax credits reroute money from budget, lawmakers brace for less certain budget growth

Published

on

As new tax credits reroute money from budget, lawmakers brace for less certain budget growth


Even as Colorado enacts drastic changes to its tax policy, economic forecasters still expect the state to hit the constitutional cap on revenue collections in coming years.

But, the state could flirt with falling below the cap, set by the Taxpayer’s Bill of Rights, for the first time in half a decade during the adjustment period. The TABOR cap grows based on population growth and inflation, and money collected over it needs to be refunded to taxpayers.

Greg Sobetski, the chief economist for the Legislative Council Staff, didn’t raise any red flags during a forecast Thursday but acknowledged “a new set of budget circumstances” for state officials to navigate after years of explosive growth in state revenues. That growth resulted in billions of dollars being refunded to taxpayers in recent years, most notably through direct payments in fall 2022 and through tax returns this year.

Lawmakers this past legislative session, however, passed more than 30 bills either adjusting or creating new tax credits, according to a tally by the governor’s office. They include expansions to the earned income tax credit for the lowest-income Coloradans, senior housing tax credits and, if certain economic triggers are met, a new credit potentially worth thousands of dollars to families.

Advertisement

Collectively, the credits will reroute hundreds of millions of dollars — if not more than a billion — per year in coming years from state coffers, though it still ends up Coloradans’ wallets. In the next fiscal year, which begins July 1, the credits could also push state revenues below the TABOR cap. Economists for the legislative branch and governor’s office both expect revenue to remain above the cap, but Sobetskis’s office, in particular, warned a routine margin of error that comes with predicting the future could drop that below the TABOR cap.

Legislative forecasters expect $1.4 billion in revenue collected above the revenue cap this fiscal year, which ends July 1, will need to be refunded. They expect it to drop to about $328 million next fiscal year before bouncing back to $1 billion-plus for the fiscal year that begins July 1, 2025.

“Even without a recession, you could end up in an environment, easily, within the realm of normal forecast error where state revenue is under the (TABOR) cap,” Sobetski said.

Forecasters for the governor’s office were more optimistic and still expect nearly $700 million in money over the cap will need to be refunded for the next fiscal year. Exact TABOR refunds for the upcoming tax year won’t be set for months still and depend on future forecasts.

Overall, forecasters expected continued economic growth and lower chances of a recession in the immediate term. But, economic activity is being stymied by persistently high interest rates. State economists had originally expected multiple interest rate cuts from the Federal Reserve this year, and when those didn’t materialize, they revised state economic growth expectations down, Sobetski said.

Advertisement

“Because we’re expecting interest rate cuts to happen later, we’re not expecting the interest rates to accelerate as quickly,” he said.

Stay up-to-date with Colorado Politics by signing up for our weekly newsletter, The Spot.



Source link

Colorado

Jewish Family Service of Colorado marks 153 years of providing food aid and housing support

Published

on

Jewish Family Service of Colorado marks 153 years of providing food aid and housing support


Jewish Family Service of Colorado is rarely quiet these days. In the two-story brick building at the corner of Eastman Avenue and Tamarac Drive, people rush up the stairs toward reception, passing others who step into the food pantry to select groceries.

Nearby, visitors pause, flipping through pamphlets and reading signs plastered across the wall, taking in the full scope of the nonprofit’s work.

For Linda Foster, president and CEO of JFS, the steady stream of people seeking help is both a sign of unprecedented need and a reminder of why the nonprofit exists in the first place.

The Denver Post Season To Share is the annual holiday fundraising campaign of The Denver Post and The Denver Post Community Foundation, a 501(c)(3) nonprofit. Funds support local nonprofits that help low-income children, families, and individuals move out of poverty toward stability and self-sufficiency. Visit SeasonToShare.com to learn more or to donate now.
Advertisement

“We are an organization that has Jewish values, but we serve everybody. We don’t discriminate in any way,” Foster said.

Today, the nonprofit serves more than 26,000 people annually through over 30 programs and services, including food security, housing stability, mental health counseling, aging care, employment support, refugee resettlement, chaplaincy and Jewish life, disability services and aeroponic farming.

JFS, which receives funding from The Denver Post Community Foundation’s Season to Share program, is now in its 153rd year and has grown far beyond its origins as the Hebrew Ladies Benevolent Society.

As Colorado faces a housing crisis, rising food prices and growing community vulnerability, Foster said JFS continues to adapt while staying true to its mission of improving the lives of individuals and families in need across the state.

At the center of that response is a staff driven by purpose, Foster said. JFS has nearly 200 employees and over 700 volunteers of all types of backgrounds, and is what drew Foster to take on the role.

Advertisement

“Every day I’m doing something that makes a difference, and I have the most incredible staff who care about each other, but also care about our community and our clients. So, I wanted to be part of that,” Foster said.

The nonprofit is expanding its food pantry support, community partnerships and focusing efforts on preventing homelessness through its Emergency Housing Assistance program and Rapid Rehousing program.

People pick out fresh food items at the Jewish Family Service of Colorado food pantry in Denver., on Oct. 29, 2025. (Photo by RJ Sangosti/The Denver Post)
People pick out fresh food items at the Jewish Family Service of Colorado food pantry in Denver., on Oct. 29, 2025. (Photo by RJ Sangosti/The Denver Post)

More recently, JFS has worked to fill the gaps left by SNAP cuts that occurred during the government shutdown by increasing the amount of produce and protein it offers and ordering thousands of dollars’ worth of gift cards.

While the pantry can only provide so much, these gift cards allow families to purchase additional essentials that JFS can’t supply. However, even though the nonprofit has the flexibility to adapt to problems the community faces, it can sometimes add up.

“The support of the community around those are just so critical,” she said as the nonprofit receives hundreds of calls every day from people who need assistance.

Advertisement

“We’re really dependent on a committed community of donors — we wouldn’t be able to survive if we didn’t get that kind of support. We’re a nonprofit, so we have to find ways to be sustainable, and that’s when we depend on grants and we depend on donors.”

Foster sat at a big table in the middle of her office on a Tuesday afternoon, hands clasped together, staring off at the wall as she recalled meeting a client.

“Oftentimes I’ll go down just to hear someone’s story,” she said. “It reminds me why I’m here and what I’m doing.”

“I care so much about our organization and the people we serve, and there’s so much good we’re doing,” Foster said.

The Jewish Family Service of Colorado, founded in 1872, is a nonsectarian nonprofit human services agency based in Denver, photographed on Oct. 29, 2025. (Photo by RJ Sangosti/The Denver Post)
The Jewish Family Service of Colorado, founded in 1872, is a nonsectarian nonprofit human services agency based in Denver, photographed on Oct. 29, 2025. (Photo by RJ Sangosti/The Denver Post)



Source link

Continue Reading

Colorado

Colorado High School Football Scores, Results & Live Updates (CHSAA) — November 29, 2025

Published

on

Colorado High School Football Scores, Results & Live Updates (CHSAA) — November 29, 2025


There are eight high school football games in Colorado on Saturday, November 29. You can follow every game live on our Colorado High School Football Scoreboard.

This week highlights many games featuring some of Colorado’s best teams. One top matchup to keep an eye on will be when Valor Christian takes on Cherry Creek.

With numerous games featuring top-ranked teams, this weekend promises to deliver plenty of excitement as Colorado high school football pushes on.

There are two games scheduled in the CHSAA 5A classification on Saturday, November 29, including Valor Christian vs Cherry Creek. You can follow every game on our CHSAA Class 5A High School Football Scoreboard.

Advertisement

CHSAA Class 5A High School Football Scoreboard.

There are two games scheduled in the CHSAA 4A classification on Saturday, November 29, highlighted by Palmer Ridge vs Montrose. You can follow every game on our CHSAA Class 4A High School Football Scoreboard.

CHSAA Class 4A High School Football Scoreboard.

There are two games scheduled in the CHSAA 3A classification on Saturday, November 29, including Pomona vs Palisade. You can follow every game on our CHSAA Class 3A High School Football Scoreboard.

CHSAA Class 3A High School Football Scoreboard.

Advertisement

There is one game scheduled in the CHSAA 2A classification on Saturday, November 29. You can follow every game on our CHSAA Class 2A High School Football Scoreboard.

CHSAA Class 2A High School Football Scoreboard.

There is one game scheduled in the CHSAA 1A classification on Saturday, November 29. You can follow every game on our CHSAA Class 1A High School Football Scoreboard.

CHSAA Class 1A High School Football Scoreboard.

There is one game scheduled in the CHSAA 1A 6 Man classification on Saturday, November 29. You can follow every game on our CHSAA Class 1A 6 Man High School Football Scoreboard.

Advertisement

CHSAA Class 1A 6 Man High School Football Scoreboard.

There are no games scheduled in the CHSAA 1A 8 Man classification on Saturday, November 29. You can follow every game on our CHSAA Class 1A 8 Man High School Football Scoreboard.

CHSAA Class 1A 8 Man High School Football Scoreboard.

Get even closer to the action by creating a free account. Follow your favorite teams and get score updates, breaking news and alerts when new photo galleries are available. Sign up for free here.



Source link

Advertisement
Continue Reading

Colorado

Air Force RB Owen Allen Shines in Double-Digit Win vs. Colorado State

Published

on

Air Force RB Owen Allen Shines in Double-Digit Win vs. Colorado State


Air Force running back Owen Allen dashed for 107 yards and two touchdowns, tight end Bruin Fleischmann caught both of his targets for 61 yards and two touchdowns, and Air Force took down Colorado State 42-21 on Friday to recapture the Ram-Falcon Trophy in the final game of the season for both teams.

The Falcons (4-8, 3-5 Mountain West) took the lead on the opening drive of the game as Fleischmann hauled in a 55-yard receiving score. Air Force scored on three of its four first-half drives, and only punted once throughout the game.

Josh Johnson completed all four of his passing attempts for 104 yards and two touchdowns, and added 22 yards and a score on the ground.

Advertisement

The Rams (2-10, 1-7) were led by Jackson Brousseau’s 323 yards and two touchdowns on 28-of-37 passing. It’s the first 10-loss season since 1988 for Colorado State, which is leaving the Mountain West to play in the Pac-12 next season.

Air Force holds the edge in the series, 40-22-1, and have won eight of the last nine meetings.

Reporting by The Associated Press.

Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, and follow leagues, teams and players to receive a personalized newsletter daily!



Source link

Advertisement
Continue Reading
Advertisement

Trending