Representative Rick Taggart

Yesterday HB26-1410, the Long Bill, was signed into law. We, as the JBC, balanced this budget through a lot of discussion, a lot of debate, and even through tears as this was one of the most challenging budget years. I am grateful for the work we accomplished and for the thoughtfulness of my colleagues during this time.

Day 4 of budget week.

Today marks the second day of the Long Bill on the House floor. We’re continuing debate and working through amendments as part of the final steps in the budget process.

A lot of time and effort has gone into getting us here, and we’re continuing to move the process forward.

After months of detailed work, long days, and many conversations, the Joint Budget Committee has finalized the Long Bill.

This is one of the most important responsibilities we take on each year; building a balanced state budget that reflects Colorado’s priorities and fiscal realities. It’s a process that takes real collaboration, decision-making, and a lot of behind-the-scenes work.

I’m grateful to be part of a team that has stayed focused and committed throughout every step of this process.

Now, the Long Bill moves to the House floor for debate and consideration as we head into the final stretch of session.

March was a productive month at the Capitol as we head into the final stretch of session, with 43 days remaining until Sine Die.

My focus right now is on finalizing the state budget and working through key legislation with the Joint Budget Committee (JBC). Several bills are continuing to move through the legislature, including efforts to support job growth, extend the Homeless Contribution Tax Credit, strengthen child advocacy centers, and expand outdoor opportunities across Colorado.

One bill I’m especially focused on is HB26-1317, which works to better align education and workforce programs across the state. This is the kind of change that can create clearer pathways to good-paying jobs and better connect employers with a skilled workforce.

Back home in District 55, I’ve continued meeting with local leaders, organizations, and community members to stay connected on the issues that matter most.

As always, thank you for staying engaged.

Join me and several of my colleagues for a Western Slope Virtual Town Hall on Tuesday, March 17 at 5:00 PM.

This is a great opportunity to hear updates from the Capitol, ask questions, and share your thoughts on the issues that matter most to our Western Slope communities. I hope you’ll join and be part of the conversation.

Copy & paste this link into your browser!: http://bit.ly/4u1OJ4B

Today, I was honored to speak on the House floor in recognition of IDD Awareness Day.

This day is about recognizing Coloradans with intellectual and developmental disabilities and celebrating the strength and resilience they bring to our communities. It’s also about supporting the families, caregivers, and providers who work every day to ensure individuals have the resources and support they need to thrive.

I wanted to share an update from the Capitol and offer some insight into the workings of the JBC. While this information underscores the seriousness of the state’s current financial situation, I believe it is important to keep you informed.

WHAT THE LAST FEW WEEKS HAVE LOOKED LIKE...
Over the last several weeks at the Capitol, much of the focus has been on budget briefings, supplemental hearings, and updated revenue forecasts as the state confronts a significant budget shortfall for both FY 2025–26 and FY 2026–27. A substantial portion of these discussions have centered on rising caseload costs, particularly within Medicaid, the Department of Corrections, and Human Services.
Updated revenue forecasts from the Office of State Planning and Budgeting indicate a tighter fiscal outlook (revenue versus expenditures) than what was predicted earlier in the year, requiring careful consideration of both immediate budget pressures and longer-term fiscal sustainability.

JBC SUPPLEMENTAL REQUESTS OVERVIEW
Colorado faces a significant budget shortfall. Updated December forecasts show the General Fund falling more than $350 million below the 15% statutory reserve requirement for FY 2025-26, with a structural deficit projected to continue into the next two fiscal years, at a minimum.
Revenues are coming in lower than expected. The Office of State Planning and Budgeting now projects $1.05 billion less in General Fund revenue for FY 2025-26 than what was planned when we balanced the budget last April. Increased caseloads in Medicaid, Corrections, and Human Services are driving additional costs to the FY 25/26 budget. Case load growth has created supplemental budget requests creating a $170 million General Fund increase, placing further pressure on the already strained 25/26
budget.

LOOKING AHEAD ON THE JBC (FIGURE SETTING...)
To balance the budget for FY 2026-27 we have to cut spending by $850 million to $1 billion. To address this and balance the FY 2026– 27 budget, the JBC will be looking closely at the structural deficit that has been created over many years. Updated Medicaid forecasts in February and revenue forecasts in March will play a major role in shaping final budget decisions. On going discussions and debate within the JBC will be centered around the prioritization of what is essential to the citizens of Colorado versus non-essential priorities.

Today the JBC got to attend the bill signing for 3 of the bills that came out of our work on the budget:

•HB24-1394 Mill Levy Equalization
•HB24-1389 School Funding for New Arrival Students
•HB24-1420 Transfer to Colorado Crime Victim Services Fund

I am incredibly thankful to have been able to work alongside these outstanding individuals to create some worthwhile legislation for the state.

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Yesterday, my JBC colleagues and I presented the state budget, referred to as the “Long Bill”, to our fellow members in the House. While we are all exhausted, I am immensely grateful to have been a part of this process.

I understand that often us legislators refer to processes that may be confusing at times, with the state budget being one of them. If you ever need help understanding what goes into creating the budget each year, I would recommend checking out this breakdown.