COFPI Testifies Before Fiscal Stability Commission

COFPI Senior Fiscal Analyst Carol Hedges testifed today before the Fiscal Stability Commission, where she provided some much needed context about Colorado's perpetual budget crisis. As lawmakers face the possibility of across-the-board cuts, Hedges also urged members of the commission to consider the revenue side of the ledger as the state looks to improve its fiscal standing and strengthen investments

"History shows that we cannot cut our way out of our perpetual budget crisis," Hedges said before the 16-member panel. Her testimony focused on the state's perpetual revenue problems, Colorado's poor rankings when compared to other states' investments in key areas, transparency issues, the lack of scrutiny around tax expenditures, the regressive nature of Colorado's tax system, and the need to reconcile what kind of Colorado we all want.

"A robust public sector is not the sole component of a robust economy, but we all know it is an important piece of the solution to our perpetual fiscal crisis," Hedges went on to say. "And while critics will surely bemoan the size of government, recall my earlier point that size is not the issue. Service is the issue. What kind of service are Coloradans getting from their government? What kind of investment are we making in our future? Will today's commitments improve our outlook or undermine our success?"

You can see her complete testimony as prepared here, as well as the data charts and state rankings that were provided to the commission.