House speaker calls for new budget rules
DENVER — GOP House Speaker Frank McNulty says state revenues are too optimistic and he’s calling for additional cuts in next year’s budget.
Lawmakers say they will have to cut at least $1.1 billion from the estimated $19.1 billion budget beginning July 1, but McNulty says they need to add another $195 million in cuts now.
He says lawmakers are being forced to cut $300 million in just four months this year because estimates were overly optimistic. He says lawmakers should have a cushion in case the estimated revenue is off next year.
The House Finance Committee is expected to take up the proposal today.
Democrats had no immediate reaction to the proposal.