By Bella Combest
On Saturday, June 6, the Joint Budget Committee Vice-Chair Dominick Moreno and Senator Rachel Zenzinger released the following statements after the Senate passed Colorado’s long bill budget for FY20-21 (HB20-1360) on a vote of 24-9.
“The impact of COVID-19 on Colorado’s fiscal health is almost incomprehensible,” said Sen. Moreno, D-Commerce City. “But despite being faced with a seemingly insurmountable challenge, we have been able to create a budget that continues to safeguard education and prioritize critical human services. I am incredibly grateful for the hard work of my fellow Joint Budget Committee Members, our nonpartisan staff, and the members of the Senate, who have put politics a budget that reflects what matters most to Coloradans.”
“This process was full of difficult, sometimes heartbreaking decisions,” said Sen. Zenzinger, D-Arvada. “I get no joy or satisfaction in cutting the budget so drastically. We all sacrificed things we care about, Democrats and Republicans alike. In the end, we protected what matters most to our communities– focusing on the health, safety, and economic well-being of all Coloradans. In this bittersweet moment, I am proud of our state for coming together and being so resilient and determined in these difficult times.”
After the economic devastation caused by COVID-19, Colorado was left with a $3.3 billion hole in our budget – a shortfall larger than all of the previous recessions combined. Without assistance from the federal government, this forced Colorado lawmakers to cut more than 20 percent of the budget for FY20-21.
The Senate also passed HB20-1366, a bill that reforms the higher education funding formula– changing the focus from volume to long-term sustainability and performance. After a robust stakeholding process that included institutions and rural communities from across the state, this legislation passed unanimously.