In response to the economic impacts associated with COVID-19, both the federal and Colorado state governments have passed multiple massive spending and relief bills. All with the intent to address the public health crisis and inject financial stimulus into a faltering economy; the combined total aid, either already spent or expected to be spent, is estimated to be $67.2 billion, an amount equal to 17% of Colorado’s GDP.
Common Sense Institute (CSI) analyzed both the federal and Colorado state governments relief bills in response to the economic impacts associated with COVID-19, and have recommendations to set up Colorado for long-term growth:
- Replenish the unemployment insurance trust fund and stop taking federal loans.
- Pay down some of PERA’s unfunded liability to prevent future rate increases that reduce funding for schools and lower take-home pay for teachers.
- Increase the state reserve fund.
- Leverage COVID-19 relief aid as matching funds to jumpstart new one-time capital infrastructure projects.
To learn more, read the report here.
To better support Northern Colorado Prospers (NCP) strategic initiatives, NCP is a member of the Common Sense Institute (CSI), a non-partisan research organization dedicated to the protection and promotion of Colorado’s economy. With this membership, we have first access to CSI research, articles, insights and discussions surrounding the business community, with topics including fiscal impacts of policies, initiatives, and proposed laws.
Additional CSI Reports:
- Recent Trends in Health Insurance Costs: Early Results of Public Option in Washington State Compared to Colorado
- Colorado’s Competitiveness: The Challenge of Economic Recovery Under More than $1.8 Billion in New Regulations, Taxes and Fees