Colorado legislators will officially convene in a special session this morning to plug part of an $800 million budget deficit that Democrats insist is the result of the congressional budget but which Republicans argue is the state's own making after failing to heed warnings and years of overspending.
Here's what's at stake.
Analysts said Colorado will lose $1.2 billion in income tax revenue, mainly on the corporate side. The state has enough in surplus to cover about a third of that. The question is: Where to find the rest?
Proposals have been introduced to tackle as much as $300 million of that shortfall by making changes to corporate taxes in a variety of ways.
Meanwhile, legislative leaders are coalescing around the idea that, ultimately, it is up to Gov. Jared Polis to figure out w