Vote No on 60, 61 and 101 on November 2

Vote No on 60, 61 and 101 on November 2
 

Amendment 60
Schools would lose more than a billion dollars in funding each year. The school districts would be required to cut property taxes by 50 percent. Think of it – school tax revenue cut in half! This would be on top of cuts that have already occurred. Inevitably, there will be more closings and even fewer teachers.

The language in the amendment claims that the state would have to make up the difference, but where would the money come from? The state is already strapped for cash and has cut billions from the budget.

Would overturn hundreds of local elections – commonly called de-Brucings – that have occurred since 1992. Local voters throughout Colorado have chosen to give greater flexibility to their school districts, library districts, fire departments, police departments and other services to meet local needs. If Amendment 60 passes, local control would be usurped by the state, resulting in financial chaos for local communities and especially for our schools.
Bottom line - The lure of lower property taxes is a hollow promise, further crippling our schools and other vital local services.
 

Amendment 61
Amendment 61 will collapse Colorado’s economy, robbing us of any chance of economic recovery. It eliminates Colorado’s ability to build or expand its schools, roads, hospitals, college buildings, light rail, water and sewer systems, prisons—in fact, any of its capital infrastructure.

The amendment would severely limit – even prohibit – what it calls “government borrowing.” On the surface, it might sound like a good idea. But in reality, this proposal has nothing to do with problems at the national level like borrowing and deficit spending. Proponents are trying to mislead voters by using words like “government borrowing” when, in reality, they are trying to do away with state and local bonding.

Bonding is a prudent form of financing that governments have relied on for decades. Bonding makes it possible to build schools in your neighborhood, fire stations, water projects, prisons, airports, health facilities, highways, transit, colleges… the list goes on and on. Amendment 61 would make it very difficult – even impossible – for the state and local governments to issue bonds.

Local districts would have to repay bonds within ten years, instead of a reasonable time frame such as 20 years. Eliminating longer-term bonds for large projects could raise repayment costs to exorbitant levels. Why should such fiscal handcuffs be put into our State Constitution? Let the decision be made the local level on case by case basis.

The state would be prohibited from using financial instruments like “revenue anticipation notes” and “certificates of participation.” The state has used these tools for decades to even out cash flow throughout the year. Not being able to use these tools will impede the state’s ability to provide services – even meet payroll – during times of the year when revenue is low.

The amendment also would require that after bonds have been repaid, any taxes used for repayment must be lowered – even if those taxes weren’t raised in the first place. For instance, when the bonds that financed T-REX and other transportation projects have been repaid, the state gas tax would have to be cut by $168 million a year – at a time when our road needs are greater than ever.

Instead of attracting investment, Colorado will be an investment-flight state. Once companies bypass Colorado with jobs and capital investment, we risk losing existing companies to other states, and our ability to recover from this recession will be lost to other states.
Bottom line – Amendment 61 is a crazy experiment that would eliminate any practical means for state and local governments to make capital improvements.
 

Proposition 101

Eliminates a major funding source for road and bridge construction across the state. The annual vehicle registration fee would be cut to an arbitrary $10 – no longer based on vehicle size or weight. The registration fee hasn’t been that low since 1919 when the state had only a handful of paved roads. Road budgets would be cut by hundreds of millions of dollars, meaning more potholes and crumbling bridges. Not only would state highway projects be cut, but local projects would be as well, since cities and counties receive a major portion of their road funding from this fee.
The Colorado Department of Transportation (CDOT) estimates that Proposition 101 would eliminate a quarter of its annual revenue – about $277 million!

The Specific Ownership Tax on cars would be reduced to $2 on new cars and $1 on used cars. This revenue actually helps fund schools districts and other local government priorities. Local revenue would be cut by some $500 million annually.

The state income tax also would be reduced incrementally to 3.5 percent. This would eliminate a quarter of the state’s revenue from income tax when state budget already has been severely impacted by the recession. Such a drastic reduction would mean even more cuts in critical state services.
Bottom line - Proposition 101 would severely impact everything from roads to schools, with no regard for the actual cost of providing these vital services.
 

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