Teachers hope for good news in Colo. tax forecast

By: Associated Press Email
By: Associated Press Email

DENVER (AP) Colorado's strengthening economy has left state government with a $1 billion surplus and an economic outlook that seems to brighten every fiscal quarter.

State educators are hoping for another rosy prediction from Friday's quarterly forecast. That's because voters last month rejected a large income-tax hike for schools. Educators are hoping much of the surplus will be used to backfill school budgets devastated by the recession.

The December forecast is the final one before state lawmakers start work on a budget for the 2014-15 fiscal year.

The state finished with a general fund surplus of $1.1 billion for the fiscal year that ended June 30.

Democratic Gov. John Hickenlooper said Thursday that he hopes some of the surplus can be used on education.

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