REFUNDS

to.

e bad news is that the in ation rate used to calculate the TABOR cap lags current economic conditions.

at means that while the legislature would seem to have more money to spend next year, the amount is actually lower than this year’s when adjusted for real-time population and in ation increases.

In fact, Greg Sobetski, chief economist for Legislative Council Sta , told the JBC that even without TABOR state budget revenue isn’t expected to keep up with in ation and population increases.

“We expect those revenue increases to not make up for the budgetary pressures that arise from in ation and population,” he said.

Still, state tax revenue is expected