Colorado's 75th legislature gaveled in Wednesday. A big focus will be on where to find budget cuts as we face a more than $700 million deficit.Every year, there's plenty that lawmakers want to accomplish, but a lot of their plans fall to the wayside due to lack of money as the state balances the budget, and this year will be especially stringent. Economic forecasters revealed the state is facing that massive $700 million plus deficit due in part to cooling inflation, which limits state spending under TABOR. An aging population means more Medicaid spending and increased K-12 education spending. That education spending, which was passed last year, is now one of the possible funding cuts. Don't forget the property tax cuts we saw last year affects education as well. But, both sides of the aisle are saying they'd like to find the cuts elsewhere outside of education. "It should be the last thing that they cut," said Republican State Senator Byron Pelton, Minority Caucus Chair. "... education should be a priority to be fully funded... Our kids don't have a voice necessarily, you know, as a voter, and our kids need that voice, and that's why I'm here, and that's why I'm going to continue to protect education funding."Colorado Governor Jared Polis did recently also propose cutting funds to higher education and Medicaid providers to help the deficit. Democrats still hold big majorities in both chambers, and the session lasts 120 days.Meantime, at least 130 bills were introduced Wednesday, relating to the following topics: firearms wildfire mitigation film tourism immigration enforcement more affordable housing measuresFor a full list of bills introduced Wednesday, visit the Colorado General Assembly's website. _______Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.