Whether it’s roads, schools, prisons, colleges, hospitals or airports, you don’t have to look far to find something built with money borrowed by state and local governments.
Amendment 61, which Colorado voters will consider in November, could dramatically change that financing method.
The proposal — one of three tax-slashing and government-limiting measures on the ballot — would prohibit the state from borrowing and would limit local governments to borrowing for only 10 years and only with voter approval.
A vast coalition is opposing Amendment 61, saying it will devastate the state. Known as Coloradans for Responsible Reform, the group also is campaigning against Amendment 60, which would roll back and limit property taxes, and Proposition 101, which would slash about $2.3 billion in state and local taxes.
Opponents estimate $2 billion a year in publicly financed construction would cease if the plan passes.