The question before Colorado voters is, “Will we invest in government or the people?” Referendums C and D will allow the state to keep all the tax revenues it collects for the next five years (estimated at $3.7 billion), and incur an additional $3.225 billion of long-term debt.
I have thought through this issue carefully. I have listened to both sides of the argument. But I have come to the conclusion that I cannot support these measures. The premise underlying C and D is that without some changes, we will need to cut an additional $400 million from the state budget next year.
If this is the case, why then ask the taxpayers for a far greater amount?
When government keeps money that would otherwise be returned to taxpayers, that’s a tax increase. When government increases spending, that grows the cost of government forever. Coloradans historically are skeptical of doing either.
Perhaps most significantly, C and D do not fix the systemic budget problems that have forced us into these difficult times. The next time we face economic recession, which is a historical certainty, we will be right back in the same place we are now. The current fiscal challenge in Colorado is admittedly difficult, but I believe we need a long-term solution that allows us to look to the future with confidence and not simply apply a tax increase that doesn’t address systemic problems.
Before we can bring forward an innovative, long-term solution, we must first address our immediate revenue shortfall. There are options available to make up the funding shortfall that may exist next year. Colorado could securitize the tobacco settlement proceeds, sell unneeded state assets, and/or defer state expenses like payroll increases, to name a few of the ways to provide the time to pursue a sound, long-term fix.
So, what should a long-term solution involve? Colorado has changed tremendously in size and complexity over the last few decades, and more is on the way. We need to examine all of the statutory and constitutional provisions currently in place and ask ourselves if we are doing Colorado’s business in the best way possible to meet our present needs, but more importantly, the needs of our future. When that question is answered, and a strategy developed, then the legislature and voters can address the real future needs of our state.
Reasonable people will forever disagree on complex issues. I’ve always prided myself in not letting the perfect be the enemy of the good. But, C and D are not good enough for me because they only increase spending without addressing and fixing the systemic problems.
Coloradans pride themselves in being better, being innovative leaders, and caring not just about today, but about what kind of tomorrow we leave after we pass by. Absolutely, we should do what we must to meet current needs.
Then, after C and D are defeated, raise our eyes, look toward the future, and craft the right solution for Colorado.
Bob Beauprez is U.S. representative from Colorado’s 7th Congressional District and is seeking the Republican nomination for governor.
