Colorado's Governor announces $103 million in cuts to balance state budget

Gov. Jared Polis signed an executive order cutting $103 million from Colorado's budget on Thursday.  The cuts take effect September 1.

It comes just days after the legislature ended a special session where they raised taxes on businesses. 

And the cuts and special session come after President Trump's Big Beautiful Bill cut taxes, leaving the state without enough money to cover expenditures in this year's budget.

"Unlike Congress, Colorado balances our budget. That's why, after careful consideration, the legislature came back and I am taking the actions I'm taking today," said Polis during a news conference. 

Governor Polis said his goal was to spare K-12 education and public safety.

The Department of Health Care Policy and Financing, which administers Medicaid, will take the biggest hit.  It will lose $79 million, of which $55 million is due to lower reimbursement rates to health care providers, according to state officials.

The Governor's Executive Order totals $102,493,375 in budget cuts on Thursday. Some of the cuts include:

$79 Mil: Department of Health Care Policy and Financing

$16 Mil: Behavioral Health Services for Medicaid Recipients

Nearly $13 Mil: Department of Higher Education

Nearly $4 Mil: Transgender Health Care at the Department of Corrections

Nearly $2 Mil: Grant program aimed at addressing health disparities

Nearly $2 Mil: Local health departments

$631,000: Health care for undocumented women and children.