DENVER
03/30/2010 05:12 am ET | Updated May 25, 2011

Colorado Tax Exemption Debate Less Than Half Finished After Contentious Marathon Day

A marathon committee hearing continued late into the night Wednesday as a flood of business groups argued against eliminating $132 million of tax credits and exemptions as a way to help balance the state budget.

Rep. Jack Pommer, a Boulder Democrat carrying several of the 11 bills in the package, said at the outset of the House Finance Committee hearing that foes of nixing the tax breaks needed to suggest where else to cut.

The state will have to bridge a $2.2 billion shortfall in the current budget year that ends in June and faces at least a $1.3 billion deficit in the 2010-11 year.

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