The Taxpayer’s Bill of Rights is alive and well in Colorado. In fact, by using a provision within TABOR to repair the so-called ratchet effect, I believe we have preserved TABOR for many years to come.
I also believe that as other states consider TABOR amendments, Colorado will be viewed as a model. Indeed, some other states have learned from the Colorado experience and are drafting their TABOR provisions to guard against the ratchet.
As the dust settles from Tuesday’s election, it is clear that passing Referendum C was a victory for common sense and for fiscal responsibility. The state will now be able to avoid significant budget cuts – as much as $500 million in the next fiscal year alone – that would have further curtailed essential services.
Such a bleak future for Colorado simply wasn’t acceptable to many voters. They responded by giving the state permission to retain TABOR surpluses – revenue already being collected – for five years. This was a vote for our colleges, a vote for health care, and a vote for our children and their education.
Yes, the election was close. Coloradans have demonstrated over the years that they value limited government. Voters demand that we use their dollars wisely and we will. These funds are not intended to create new programs or greatly expand existing ones. Instead, they will help restore critical programs that have seen substantial cuts in recent years. In short, we will be refilling the financial reservoir that was drained during the recession.
It is important to stress that this was not a vote on TABOR, which I believe the majority of Coloradans support. Nor was this vote particularly unique. Since 1992, this TABOR provision – asking voters for permission to retain revenue – has been used successfully in more than 700 elections in cities, counties and special jurisdictions statewide. It has been shown time and again that if you trust the voters with the facts and provide specific details on how the money will be spent – in short, be accountable – they will be open to your request.
A final word about Referendum D, which failed narrowly. Voters were cautious. They were reluctant to allow the state to increase indebtedness. I don’t believe it should be construed as a vote against highway projects. However, this time around, the voters said that highway work should be done on a “pay as you go” basis.
While road and bridge work in Colorado is still greatly underfunded, Referendum C did provide some relief. Now that the General Fund reservoir is being refilled, some of that money (under a state law passed in 1997) can flow into transportation projects. And I will be working with the state legislature in the coming session to determine if additional revenue from Referendum C can be allocated to repairing our infrastructure.
It is very clear that some of the proceeds from Referendum C are intended for transportation. The referendum title itself states that the funds are to be used “for education; health care; roads, bridges and other strategic transportation projects.”
So overall, Tuesday’s election was a great success. People throughout Colorado – Republicans, Democrats, unaffiliated voters – set their differences aside and put Colorado first. Around the country, Colorado will be seen as a state that is willing to invest in its future and, more importantly, willing to invest in its people. Colorado is moving forward.
Republican Bill Owens is governor of Colorado.
