What’s at stake?
-- Jobs and economic development
Montana state government is an essential partner
with private business when it comes to economic development.
State government provides the infrastructure that businesses
depend on, including:
Roads, transportation, and infrastructure
An educated workforce
Research via state agencies and universities
CI-97 (SOS) would severely limit the State
of Montana's ability to be an effective partner in economic
development.
Bonding
A key area of concern for business is the impact
on bonding. CI-97 would require a statewide vote to approve
general obligation bonds, even after it gets a 2/3 vote of
the legislature.
Infrastructure
Montana business people also fear that a lack of state investment
in public services and infrastructure will make it impossible
for them to attract talented employees, especially for high-tech
jobs.
Lessons from Colorado
Colorado's version of CI-97, called "TABOR," has
had such a negative impact on Colorado's economy that the
state's business leaders led the effort to suspend TABOR in
2005.
In 2002, Standard and Poor's put Colorado
under a "negative credit watch" as a result of
TABOR:
"Standard & Poor's analyst,
David Hitchcock, blamed the credit watch on TABOR's
restrictions on state spending. The restrictions affect the
government's ability to pay off debt. Tom Norton, director
of the Colorado Department of Transportation, said Standard
& Poor's decision to put the state on a credit watch
is troubling, because the lower rating would mean paying higher
interest on the bond debt and less on highway projects."
("S&P May Downgrade Colorado Credit Rating,"
Tom McAvoy, The Pueblo Chieftain, Jan. 24, 2002)
Colorado now ranks 44th in the nation in the
amount spent on roads needing repair, and 39% of Colorado
roads are rated in poor condition. And that's just one of
the areas of impact Colorado's economy has experienced.
Colorado business and community leaders now
view TABOR as deeply flawed. Read
what they say.
Colorado
business and business-related groups that supported overturning
TABOR
List
of businesses in other states that oppose measures like CI-97
Read
more about Colorado’s credit rating
Report:
“Economic claims for TABOR not supported by Colorado’s
experience”
What's At
Stake:
Senior citizens
Public
health and safety
Local
communities
Jobs and economic
development
K-12 schools
Higher
education
Montana's
most vulnerable citizens
Agriculture |
