Colorado's Economic Forecast Shows Steady Growth, Higher Revenue Than Expected

DENVER ~ In a recent presentation to the Joint Budget Committee, the Governor's Office of State Planning and Budgeting shared its economic forecast for Colorado. The report, which predicts steady economic growth in 2026, also revealed that revenue is expected to be higher than previously anticipated.

Despite facing challenges in the national economy, Governor Polis expressed optimism about Colorado's economic stability. He noted that while factors such as inflation, tariffs, and the ongoing Iran War may drive up costs and gas prices, the state's economy remains resilient. The governor also pledged to continue supporting businesses and reducing costs in order to strengthen Colorado's economy.

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According to OSPB's projections, revenue is expected to fall $15.3 million below the TABOR cap in Fiscal Year (FY) 2025-26. This is a significant improvement from the previous forecast in March, which predicted a shortfall of $229 million below the TABOR cap. Additionally, TABOR surpluses of $469.9 million in FY 2026-27 and $52.3 million in FY 2027-28 are anticipated.

However, it should be noted that the lower TABOR surplus in 2027-28 is due to an expected increase in inflation. Despite this potential setback, the overall outlook for Colorado's economy remains positive.

To learn more about the economic forecast and view accompanying materials, interested parties can visit OSPB's website. With continued efforts to support businesses and mitigate national challenges, Colorado is poised for continued economic growth in the future.

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