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.

Gov. Jared Polis CBS

"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, w

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