Taxes

Colorado takes first step in addressing budget shortfall caused by federal tax cuts

Lawmakers closed corporate tax loopholes to raise money.
The Colorado State Capitol in Denver. (AP Photo/David Zalubowski)

Colorado lawmakers during an August special session voted to close corporate tax loopholes in a bid to quickly raise money and close a yawning budget hole created by tax cuts in the One Big Beautiful Bill Act. 

They also passed bills that would bolster funding for Planned Parenthood, food assistance and health insurance subsidies in response to enacted or expected federal spending cuts.

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