DENVER (Map, News) - Colorado's transportation budget could be slashed by one-third in 2009-10 because high oil prices are forcing drivers to burn less gasoline, which in turn has cut deeply into gasoline tax revenues.
Gov. Bill Ritter warned of the impending cut Sunday as he unveiled his spending plan for the budget year that starts next July. He called it a lean and frugal proposal that reflects a worsening national and global economy.
"This is a budget that tightens state government's belt, focuses on critical services and reflects the opening of a new state prison," he said.
Ritter said Colorado has suffered less than other states but cautioned that could change.
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