The Long Bill is Finalized – Budget Highlights & Next Steps

As a member of the Joint Budget Committee, I would like to share that we have officially finalized this year’s Long Bill. The Long Bill is the draft annual budget which we (JBC) will now present to the Senate and House. Since November, we have worked tirelessly to address a budget deficit that started between $1 billion and $1.2 billion. Over the past several months, we have carefully reviewed every department and expenditure to ensure a balanced budget that prioritizes our state’s needs.

Key Highlights from the Final Budget:

• Medicaid Expansion: We have allocated an additional $310 million to support increased Medicaid enrollments, ensuring more Coloradans can access the healthcare they need. Additionally, we secured a 1.6% provider rate increase, helping to alleviate the strain on our healthcare system and support the dedicated medical professionals who serve our communities.

• Education Funding: K-12 education funding through the state’s General Fund will increase by $150 million to help maintain essential resources for students and schools. I remain committed to working with my colleagues to identify additional opportunities to strengthen support for our education system.

• Higher Education: While we aimed to fully match inflationary increases for higher education, budget constraints prevented us from reaching that goal. We did increase General Fund investments by $40 million. I will continue advocating for the funding and resources to ensure our institutions need to ensure students have access to a quality, affordable education.

Major Budget Allocations

The majority of our state’s budget is dedicated to critical services, with five major areas accounting for around 90% of total expenditures:

• Health Care Policy and Financing (Medicaid) 

• Human Services/ Behavioral Health

• K-12 Education

• Higher Education

• Corrections

The Road Ahead: Addressing Our Structural Deficit

While this year’s budget is balanced, we are still facing a structural deficit that will require significant cuts and reforms in the next budget cycle. This means continued difficult decisions and prioritization of essential services to ensure Colorado remains fiscally responsible while meeting the needs of our residents.

Our work is far from over. I remain committed to finding sustainable solutions, working across the aisle, and ensuring taxpayer dollars are employed efficiently. I appreciate your engagement and input as we navigate these challenging financial realities together.

Thank you for staying informed and involved.

As always, I welcome your feedback and look forward to continuing our work for the people of Colorado.