3/17/2005

Denver, Colorado

Under the leadership of Democratic House Speaker Andrew Romanoff and Senate President Joan Fitz-Gerald, a compromise to fix the state’s finances was struck. 

“This is a great victory for the people of Colorado.  Democrats and Republicans came together to develop a solution for the ongoing budget issues in the state,” said Pat Waak, Colorado Democratic Party Chair. 

While the issue of TABOR and the state budget is complex, the need for reform is simple.  Over the last four years, lawmakers in Colorado have had to cut more than $1.1 billion from state programs and services.  Without serious budget reform the state would have to cut an additional $230 million in programs and services next year. 

This bipartisan effort will allow the people of Colorado to vote in November on a TABOR and budget reform plan that would allow the state government to retain roughly $3.1 billion over the next five years.  By retaining these funds lawmakers would be able to fund essential programs and services that the people of Colorado need.

The final step to getting this on the ballot in November is the passage of House Bill 1194.  Because of the bipartisan support of this bill it will most likely pass.  That means the final decision will be in the hands of the voters in November.