December 21, 2012 – Colorado’s tax receipts continue to be higher than expected, with improvements in the housing market and personal income, but uncertainty over “fiscal cliff” negotiations is preventing stronger growth, state economists said Thursday. Revenue is estimated to be $159.6 million higher for the current fiscal year ending in September than predicted three months ago, Gov. John Hickenlooper’s economists told lawmakers in a quarterly briefing on the state’s outlook. The additional money will carry over to next year and be invested in a savings account for schools. The governor’s economists and legislative staff, which delivered a similar forecast, told lawmakers that consumer spending continues despite the fiscal-cliff debate.
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