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Sales Tax for Transportation and an Overview of the State Budget – Government Affairs, Education, and Energy / August 2, 2018

The Government Affairs, Education and Energy committee hosted Carla Perez with MOVE Colorado and Jason Schrock with the Governor’s Office of State Planning and Budgeting, for two informational presentations.

Carla Perez, president of MOVE Colorado, gave an update on the Let’s Go Colorado campaign, regarding transportation funding and a proposal to fix Colorado’s roads, via sales tax.  The proposal (Initiative #153 as of this printing) will increase the state’s sales tax by 0.62%, a little more than half a cent on a dollar purchase. CDOT currently has more than $9 billion in unfunded projects.

  • Revenue will address longstanding problems with funding transportation projects in the state
  • New revenue will be distributed to fund critical state projects that address safety and make it easier to get around.

Deputy Director Jason Schrock presented on Colorado’s Economy and State Budget, first highlighting employment, in which Colorado’s Total Nonagricultural Employment is outperforming US overall, and the Front Range has one of the best economies with three cities in the Top 10, including Boulder at #1.

He ended with notable budget items for 2018, comprising of:

  • Budget Stabilization Factor Decreased $150 million
  • Transportation Funding
  • Funding for PERA
  • Reserve Increase from 6.5% to 7.25%

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