Reckless Spending

Colorado is facing an uneven and uncertain economic recovery from the COVID-19 pandemic.  Instead of creating new jobs and helping businesses get back on solid footing, Colorado’s extreme left politicians are focused on collecting billions of dollars in new fees and higher taxes which will impact every Colorado family and business across the state. 

Colorado Economic Indicators:

  • Colorado statewide unemployment rate increased by the 2nd highest percentage in the nation going from 2.5% to 8.5%, and the state went from ranking 4th to 48th in terms of unemployment rates. Worse than California. 

  • Colorado women are returning to work at a slower rate than the rest of the country, down 3.3% compared to only .4% nationally. Working mothers were nearly twice as likely to have reduced work hours; 17% compared to 9% of fathers. 

  • Consumer spending in Colorado has fallen off a cliff. Colorado ranks 47th out of 50th in terms of declines in consumer spending since COVID lockdowns began.

Despite the economic facts, the Extreme Left’s tax and spend agenda is moving forward:

  • $3.8 billion in new fees across retail and transportation sectors hitting lower income families especially hard. (SB260)

  • $288 million annually from increased property taxes, on top of coming increases to property taxes from record high housing values. (HB1164).

  • $400 million by changing tax policy to impact small businesses and families, such as getting rid of incentives to contribute to 529 college savings accounts. (HB1311, HB1312).

Listen to the Experts:

“You don’t have to hurt employers to address these issues. Assistance alone isn’t going to help families come back from the pandemic — they need jobs too.”

Kelly Brough, President and CEO, Denver Metro Chamber of Commerce

“Our state is at risk. Our economy is at risk. And our kids’ future is at risk. Our focus as a state and legislature must be on returning our state to the number one economy in the country, and prosperity for every Coloradan.”

Dave Davia, CEO and Executive Vice President of Rocky Mountain Mechanical Contractors Association

“Unfortunately, many businesses haven’t survived the pandemic – that will have a lasting impact on communities across our state… We need our state leaders to simply allow businesses to get back on their feet during this time because that is the only path to economic recovery.”

Loren Furman, Senior Vice President of the Colorado Chamber

Sources: 
Colorado Sun: Lawmakers can allow districts to raise taxes 
KDVR: New report offers suggestions for the ‘She-cesion”
CPR: Colorado Democrats are planing biggest tax in years
Business Leaders call on legislature to prioritize jobs
Colorado lawmakers have massive to-do list

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