Colorado lawmakers may face a smaller budget gap in 2027. A recent update from state economists presented to the Joint Budget Committee on June 18 indicates a more favorable financial outlook.

This forecast is welcome news for legislators. The expected budget impact of Trump's tax cut law will be less severe than initially anticipated.

Further details on the updated forecast and its implications for the state budget are available from the recent report presented to lawmakers, providing more information on the expected financial situation in 2027.