A look at the budget math for the special legislative session (and the general)

By: Richard S. Davis
12:00 am
November 2, 2011

In my column in The News Tribune this morning, I examine the tough math facing lawmakers and the governor as they try to balance the state budget, which now faces a $2 billion gap between available revenues and planned spending.

The economy, under the most optimistic growth scenarios, will not grow fast enough to fill much of the $2 billion budget shortfall. Tax increases, should voters accede to them, won’t produce enough money in the short term to head off the cuts she’s proposing.

Lawmakers will first have to balance the budget without new money. Then, they’ll try to convince a skeptical public to support higher taxes to buy back the highest-priority programs.

Agreement will be tough.

Here’s some more math: 50 + 25 + 1. Any budget solution will require 50 votes in the House, 25 in the Senate and the signature of the governor. Democrats control the House by 56-42 and the Senate by 27-22. Conservative Democrats in both chambers tip the balance. While some Republicans may support a tax package, they’re unlikely to provide the decisive votes.

And they’re not still not done.

While Occupiers claim to represent “the 99 percent,” the 64 percent of the state’s voters who supported Initiative 1053 last November framed this year’s budget deliberations. The initiative requires a two-thirds legislative supermajority for tax increases or a vote of the people. There aren’t the votes in Olympia, so any tax hike will require voter approval.

It’s a tall order. Voters in Colorado yesterday decisively rejected Prop. 103, which would have raised sales and income taxes.

Categories: Budget , Categories , Current Affairs , Economy , Tax Policy.