Colorado Revises Budget Deficit to $672 Million

Nova Scotia's budget deficit is projected to improve to over $247 million, a significant reduction from earlier forecasts, attributed to a rise in provincial revenue by $642 million due to increased taxes and investment income. Finance Minister John Lohr emphasized continued investments in healthcare and a fiscally responsible approach to budgeting. In Colorado, lawmakers face a budget deficit now estimated at around $672 million, down from nearly $1 billion, largely due to changes in revenue caps and a slowing economy. Governor Jared Polis acknowledged the state's strong economy but stressed the need for difficult budgetary decisions, particularly concerning education and healthcare funding. Economists project modest growth for the state economy, yet ongoing financial pressures from Medicaid costs and previous tax cuts complicate the fiscal landscape. The Joint Budget Committee is tasked with balancing the budget while protecting essential services amid these challenges.