You should have searched first. There is a thread from not to long ago HERE with TONS of good info!!! (watch the videos I linked)

The river has recently been at ~9,000cfs (they're trying to lower the reservoir level to allow for the ~170% of normal snowpack which has not yet started melting), and is now at powerplant capacity of ~4,600cfs. They anticipate to LOWER the flows to around 2,000cfs when the Yampa River peaks to prevent flooding downstream, however, once the Yampa subsides they may increase flows back to 9,000 for awhile. These kinds of flows have not happened in 10 years or more!!! (The river will do well with the long needed 9,000cfs flush)

If you've never been to the river, it is a must-see / must-fish! The canyon is beautiful! Wade fishing at the end of July shouldn't be a problem, however, read my post in the other thread. That's the time of the mid-summer lull in fishing there, and things aren't as good as other times (not that you can't catch fish, it just typically seems to be slower). That being said, this is all relative, and an average day on the Green (especially if you float the canyon) still beats a great day many other places. There are plenty of fishing opportunities within a couple of hours of Basalt if you choose to go somewhere else.

Saltydancindave, I cannot recall the last time they were limiting floaters down the river. The canyon is a nat'l rec area, so there is a small fee, but they'll gladly take your money and let you float if you so choose.