Steamboat Springs
This Election Day, Nov. 1, Coloradans have an opportunity to truly impact the future of our state in a positive way – by voting for Referendums C and D. They will help our transportation, education and health care within the state and move Colorado forward with a better economy.
This bipartisan effort was moved forward in the last legislative session with 72 of the 100 legislators supporting it. I joined that effort early because I felt strongly that it was the right thing to do for Colorado’s future.
In my 13 years in the legislature, I have seen firsthand the budget problems facing Colorado. More than 90 percent of our budget is controlled by mandated federal programs and state constitutional requirements that grow substantially each year because our population has grown. That leaves less than 10 percent of the budget from which to make adjustments and cuts in order to meet Colorado’s balanced budget requirement – which we are fortunate to have. I do not believe in deficit spending.
The mandated and constitutional obligations that drive most of the budget, and must be met, force the legislature to take funding from various departments and entities and move it to the mandated portions of the budget. This has resulted in cuts in virtually every segment of the budget – except the mandated areas.
The “easy” cuts have been made over the recent recessionary years when revenues dropped by 17 percent and Colorado lost 115,000 jobs. In reality, they were not easy cuts. Every one of them hurt somebody – children, higher education, transportation, roads and bridges, normal building maintenance, basic infrastructure, seniors; the list goes on. As a result, we now have a $500 million structural budget deficit.
The Taxpayer’s Bill of Rights works great in a booming economy like we had in the 1990s and keeps government spending under control. Conversely, in recessionary times, it works against the ability of the state to meet the balanced budget requirement and the growing demand for dollars built in to the mandated and constitutional obligations.
As a result, the basic infrastructure begins to break down, even when the economy starts to get better – as it is now – because of the ratchet effect in TABOR.
Colorado’s economy is improving, as it is all across our country. However, unlike the 49 other states, Colorado is severely restricted in its ability to recover and invest in our future due to some of the limitations imposed by TABOR.
Referendums C and D do not destroy TABOR. In fact, they apply TABOR as it was designed to work by asking Colorado citizens and voters to approve a temporary timeout from TABOR for five years that allows Colorado to retain revenue and invest in specific areas: 55 road and bridge projects across Colorado; funding for textbooks and in-classroom instructions for K-12 education; funding to retain and maintain higher education; and much-needed funding for health care.
In the sixth year, TABOR will be reinstated with a reduction in the Colorado income tax rate from 4.63 percent to 4.5 percent and an adjustment to the ratchet effect to prevent a similar problem in future recessions.
I would urge you to read the blue book, which has been sent to all registered voters. It was prepared by the nonpartisan legislative council research staff. Copies are also available through county clerks’ offices.
Since 1992, when TABOR was passed, more than 700 eligible entities have successfully asked voters to suspend certain revenue limits to allow those dollars to be earmarked for specific projects. But those are permanent. What we propose under Referendums C and D is temporary.
The opposition boasts there are 13 other states now actively looking to pass TABOR-like proposals. What they don’t tell you is that all of them have a ratchet elimination correction feature for recessionary times to avoid the very budget problems that Colorado now faces.
Registered supporters of Referendums C and D now exceed 1,050 entities and represent all facets and corners of Colorado. That number continues to grow.
Referendums C and D do not affect your state or federal income tax refunds. They only affect the TABOR rebates or refunds and are based on your individual income level. State economists and other experts estimate the average to be $491 for the five-year total, or 27 cents per day.
Referendums C and D are critical to the healthy future of Colorado. Please join me in voting for Referendums C and D.
Republican state Sen. Jack Taylor represents District 8.
