July 11, 2005 (Denver, CO) - On Saturday, July 9, 2005 the Colorado Democratic State Executive Committee voted to fully support the Colorado Economic Recovery Act which will appear on the November 8, 2005 statewide ballot as Referenda C & D. "The support for C & D was overwhelming," said Pat Waak, Chair of the Colorado Democratic Party. "Democrats across the entire state know how important the passage of both C & D is for the future of the state."
The recent recession combined with the September 11th attacks caused state revenues to drop by 16 percent, forcing Colorado to cut $1 billion in spending over the past three years. These cuts have affected many essential programs that provide services to thousands of Coloradoans.
The Colorado Economic Recovery Act proposes asking voters to forgo their TABOR taxpayer refunds for five years and let the state earmark that money for education, health care, and transportation.
"Our Democratic leadership worked tirelessly over the last year to develop an effective plan to address the state’s budget woes," said Waak. "Now it is up the voters of Colorado to vote Yes on C & D to ensure that essential programs and services are protected from future devastating cuts."
Medicaid, higher education and strategic transportation projects have all been cut due to the state’s drop in revenues. The State of Colorado will need $3.1 billion over the next five years to restore these services.
The Colorado Democratic Party is dedicated to supporting the efforts of the Colorado Economic Recovery Act because the investment of TABOR refunds now will ensure long-term viability for the State of Colorado.
Attached is the official resolution passed by the Colorado Democratic State Executive Committee on July 9, 2005.
Colorado Democratic Party
Statement of Resolution in Support of
Vote YES on C & D
The Colorado Economic Recovery Act
Whereas the recent recession, combined with the September
11th attacks, caused our state revenues to drop 16 percent, forcing Colorado
to cut $1 billion in spending the past three years, and;
Whereas without the immediate relief, state officials would
have to start making even more massive cuts next year in funding for schools,
roads and healthcare, even as the state’s growing population creates demands
for more spending, and;
Whereas Colorado must remain competitive with other states
in seeking new jobs and investment from companies that demand good roads and
schools whenever they expand their operations, and;
Whereas the State of Colorado will need $3.1 billion over
the next five years to restore services that have been cut, ranging from Medicaid
to higher education to strategic transportation projects, and;
Whereas the Colorado Economic Recovery Act proposes asking
voters at the November 2005 Coordinated Election to forgo their TABOR taxpayer
refunds for five years and let the state earmark that money for education, health
care, transportation and retirement plans for fire and police, and;
Whereas in the 6th year, 2011, if revenue exceeds the amount
the state can spend on these services, the first $100 million will pay bonding
obligations for construction and other needs, including schools and roads, and;
Whereas in 2011, the income tax rate would drop from 4.63
percent to 4.5 percent and remain there every year there is a TABOR refund,
and;
Whereas together, we must help Colorado recover from our ongoing
budget challenges,
Now, therefore the Colorado Democratic Party
does hereby declare their full support of, and urge a YES vote for the Colorado
Economic Recovery Act appearing as Referenda C & D on the November 8, 2005
statewide ballot.
