Gov. Jared Polis Signs $46.8 Billion State Budget; Federal Tax Changes, Rising Medicaid Costs Forced Deep Cuts to Close $1 Billion Gap

Gov. Jared Polis signs $46.8 billion state budget; Federal tax changes, rising Medicaid costs forced deep cuts to close $1 billion gap

Colorado Gov. Jared Polis signed the state’s approximately $46.8 billion budget on Friday afternoon, following months of painful cuts to programs and key services across the government to make up a massive budget shortfall.

Colorado Gov. Jared Polis signs state budget, with Medicaid taking brunt of cuts to close $1 billion gap

Colorado Gov. Jared Polis on Friday, May 8, signed into law a $46.8 billion state budget that cuts healthcare spending but preserves funding for K-12 education.  The budget applies to the 2026-27 fiscal year, which begins on July 1, and caps months of work by lawmakers, who wrestled with how to close a roughly $1 billion gap that ultimately forced reductions to Medicaid funding and other programs.  “This year was incredibly difficult and challen…