SPONSORED: Common Sense Policy Roundtable releases ballot guide
Author: Tim Brown - October 17, 2018 - Updated: October 17, 2018
CSPR examines the economic and fiscal impacts of ballot questions
The Common Sense Policy Roundtable (CSPR) released a ballot guide this week to assist voters with some of the most critical issues on the November ballot.
“We believe the more informed policymakers and voters are, the better decisions will be made for the benefit of our state,” said Kristin Strohm, Executive Director of the Common Sense Policy Roundtable.
The CSPR ballot guide provides a comprehensive fiscal analysis and discussion of economic impacts of ballot proposals based on recent REMI Partnership studies and CSPR analysis. The 2018 guide summarizes findings on four major ballot measures:
- Proposition 112: If passed by voters, Proposition 112 would increase the setback requirement for new oil and gas activity on non-federal land from 500 to 2,500 feet from homes and 1,000 to 2,500 feet from hospitals and other multi-occupied structures.
According to a recent REMI study, “Increasing the Oil and Gas Setback Requirement to 2,500-feet in Colorado: An Economic and Fiscal Impact Analysis,” Proposition 112 would cost Coloradans more than 43,000 jobs in the first year and over 145,000 jobs by 2030 and have a devastating impact on the economy. The validity of the study was reviewed by Dr. Ian Lange and Dr. Braeton Smith with the Colorado School of Mines Mineral and Energy Economics Program.
- Amendment 73: Amendment 73 proposes a $1.6 billion tax increase to fund education. The initiative would change the current flat individual income tax rate in the Colorado constitution by imposing a progressive rate for individual and joint income filers who earn over $150,000. It would also increase the corporate income tax rate, and significantly change residential and commercial property tax rates.
According to the recent REMI study, “Amendment 73: The Economic Impacts of a $1.6 Billion Increase to Spend on Education,” with no performance impacts, over the next 20 years the measure would result in an average annual loss of private-sector jobs is over 11,400. The average annual impact on state GDP is a loss of $850 million and disposable personal income is estimated to be lowered by $1.8 billion on average annually.
- Propositions 109 and 110: Both Propositions 109 and 110 would increase investment in state transportation. According to a recent CSPR analysis, “Investing in Colorado’s Transportation Infrastructure,” our transportation network is vital to the success of the Colorado economy. The analysis found that given the current cost to the Colorado economy, of over $7.1 billion annually, urgent action is needed to improve our transportation network.
Read the CSPR Ballot Guide here.
About the REMI Partnership: Common Sense Policy Roundtable, Colorado Concern, Colorado Association of REALTORS®, Colorado Bankers Association, and Denver South Economic Development Partnership have partnered to develop independent, fact-based analysis that quantifies the broader economic impacts associated with policy changes. The partnership has provided Colorado lawmakers, policy makers, business leaders, and citizens with greater insight into the economic impact of public policy decisions that face the state and surrounding regions. Read more about our latest studies here.