On Monday the Senate passed a budget containing several of the pro-taxpayer, pro-business proposals promoted by the Senate Republican caucus in their letter to the Joint Budget Committee on March 24, 2011. “The 2011-12 budget isn’t perfect, but it’s a step in the right direction,” said Senate Minority Leader Mike Kopp. “It cuts total spending, keeps $50 million in the private sector and begins the conversation on reducing the size, cost and complexity of government.”
After lengthy negotiations Senate Republicans were able to repeal the Ag Tax, restoring more money to rural Colorado for infrastructure and job creation. The budget package includes a phase out of the software tax and keeps $51 million of the vendor fee in the private sector.
“Our number one focus is job creation,” said Assistant Senate Minority Leader Bill Cadman. “This is why Senate Republicans worked tirelessly to ensure that Colorado employers would have more of their money to continue growing and creating jobs.”
The 2011-12 budget also maintains a four percent reserve; eliminates 750.5 FTEs; avoids fee-based cash fund transfers to the General Fund; reduces $550 million from various state agency budgets; reduces cuts to K-12 funding; and reduces current year spending in order to insulate public schools from greater cuts in the future.
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