Lawmakers Weigh $300M Pinnacol Split To Shore Up State Budget

By Marianne Goodland | Colorado Politics

The panel of Colorado legislators in charge of crafting next year’s budget has finalized the 2026–27 spending plan built on deep cuts and one‑time cash transfers in an attempt to close a shortfall of more than $1.2 billion.

The plan is leaving lawmakers frustrated with the reductions to core services. Some cited cuts to health care programs for children and families, though others argued the spending plan “protects what matters most.”

That $1.2 billion figure comes from the governor’s economic forecast. The legislature’s economists, however, warned of an even bigger deficit at around $1.5 billion.

A combination of factors have led to Colorado’s budget woes. Democrats have pointed to the congressional budget approved last year, which analysts said changed the revenue equation for Colorado, unbalancing the state budget. Republicans have blamed the decisions by the Democratic majority, saying the latter overspent and, even when the budget hole was evident, refused to make the hard choices.

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