During the 2005 legislative session, Gov. Bill Owens and state lawmakers crafted a compromise proposal to help state government deal with massive budget cuts. The cuts were forced because tax revenues sharply declined during the 2001-03 recession. But while the state's economy began to rebound by 2004, the "ratchet effect" in the TABOR amendment prevented state government from using the rising tax revenues. The compromise was a package of measures to be referred to voters in the November election, called Referenda C and D.
For the Bell Policy Center, which had been researching TABOR impacts since 2002, the value of Refs C and D was clear. The package offered a short-term fix to Colorado's budget crisis, which had forced painful cuts in many areas, particularly higher education and health care.
Bell's policy staff took a close look at the budget impacts in higher education and health care, and prepared special booklets (below) for distribution at a series of meetings held across Colorado during the summer and fall of 2005. |
The Bell Policy Center's Referenda C & D Fact Sheet
Commentary - Taking the toxin out of TABOR, by Bob Ewegen, The Denver Post, May 28, 2005
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