April 05, 2011 09:15 PM UTC

BREAKING: Assembly Reaches Budget Compromise

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• by: Colorado Pols

UPDATE: FOX 31’s Eli Stokols:

The compromise version of the “long bill” is set to be introduced in the state Senate at 4 p.m., followed by a joint press conference with Senate President Brandon Shaffer and House Speaker Frank McNulty, who were able to finally negotiate a deal after several days of tense talks in and around the Capitol.

“Everybody got a little of what they wanted. At this point, nobody’s happy, but everybody’s relieved,” said Gov. John Hickenlooper, whose staff worked hard throughout the negotiations to hold all the factions together…

“When you reduce the proposed cut to K-12 education by almost $100 million, it created a very difficult negotiation down here,” Shaffer said. “But it was worth fighting for, and I think we succeeded.”

Word is just now coming out of the Capitol that members of the Joint Budget Committee have reached a compromise, and the much-delayed Long Bill will be introduced this afternoon. We’re awaiting more details and statements from the relevant parties, but we can tell you that the last sticking point from GOP House Speaker Frank McNulty, who oddly demanded an amendment affecting state employee retirement contributions that would not have affected the budget at all in order to cooperate, was not a part of the final deal. GOP reportedly did win concessions on the repealed sales tax exemptions for agricultural products (the “bull semen tax”) and software.

More details, statements, etc. coming soon; the JBC will meet today at 1:30PM.