With nods to Taylor Swift, lawmakers mark milestone
Colorado lawmakers, teachers and the governor on Thursday celebrated a milestone a generation in the making: The coming end of a Great Recessionera education funding gap that has diverted billions of dollars from schools.
Legislators have used the maneuver for 15 years to avoid funding schools at the level mandated by the state’s voters when they passed Amendment 23 in 2000. Called the budget stabilization factor, the adjustment has funneled money from education to other priorities, adding up to more than $10 billion during that time, according to Chalkbeat Colorado.
This year, lawmakers are poised to finally do away with the funding gap, also known as the “BS factor” for short.
An event called on the Capitol steps to put a spotlight on the decision cribbed heavily from pop superstar Taylor Swift to add flair to the occasion. Key lawmakers from both parties and Gov. Jared Polis spoke beneath a friendship bracelet-themed banner that declared the start of the “fully funded era” — perhaps an unheralded addition to the singer’s ongoing Eras Tour — and committed to using the funding proposal as a starting point to set aside more money for education.
“It is such a thrill to finally say to the BS factor: We are never, ever, ever getting back together!” said Sen. Rachel Zenzinger, an Arvada Democrat and former school teacher, quoting a Swift lyric.
The legislature’s budget-setting Joint Budget Committee voted this week to include constitutionally-mandated levels of funding in the upcoming budget. It was a key hurdle, though the full General Assembly still needs to approve the final budget in the coming months. Zeroing out the BS factor also was part of Polis’ budget proposal in November.
The education funding diversions have fluctuated, reaching as high as $1.1 billion in the pandemic-era 2020-2021 fiscal budget, Chalkbeat reported. Last year, $141 million was diverted.
Advocates warn, with no intended reference to the Swift album, that this year’s restored funding will only get Colorado to 1989 levels of inflation-adjusted education spending. While that’s a constitutional minimum, they want to further increase education funding in future years.