Colorado’s Green Tax Credits to be Slashed Due to Dismal Economic Forcast
By Taylor Dolven | The Colorado Sun
State discounts for purchasing heat pumps, e-bikes, and electric cars and trucks will be cut in half next year, Colorado economists announced Wednesday.
The tax credits, some made available just last year, will be slashed in 2026 because of a dismal state revenue forecast, said Emily Dohrman, senior economist for nonpartisan Legislative Council Staff, at the Joint Budget Committee’s quarterly meeting.
Lawmakers enacted the green tax credits in 2023 to make electric transportation and heating and cooling more appealing to Coloradans. But the availability of the credits hinges on state economic forecasts showing at least 4% projected revenue growth in the next fiscal year, or else they are cut by 50%.
Up until recently, it looked like the state...