Poverty Hits 11.4% in Colorado

Colorado went into the current recession in a worse position than it entered the 2001 recession, according to new poverty data released today by the Census Bureau. Colorado’s poverty rate hit 11.4 percent in 2008, even prior to the full onset of the recession. This new data is a significant increase over Colorado’s 2001 poverty rate of 9.6 percent, outpacing the national poverty rate increase from 12.1 percent in 2001 to 13.2 percent in 2008. Likewise, the state’s child poverty rate remains among the fastest growing in the country, climbing from 12.2 percent in 2001 to14.8 percent in 2008.

“The new numbers paint a troubling picture on poverty in Colorado,” said Kathy White, Program Director of the Colorado Fiscal Policy Institute. “Colorado went into a worse recession in 2008 in an even worse position than in the last recession in 2001, with more Coloradans in poverty—kids, families, and individuals.”

“The implications of poverty on a child’s life are widespread and long-lasting,” said Chris Watney, President of the Colorado Children’s Campaign. “These numbers represent real lives and a real need to reverse this trend.”

See the complete release here.

We Got Options. Revenue Options, That Is.

While state leaders have been doing a decent job mitigating the impact of cuts on Colorado families, the fact is they've only been working with limited options. And it's time they look at the other side of the ledger: revenue.

COFPI put together this list of options that the legislature could pursue in a special session or into the future.

Likewise, Legislative Council compiled this list of sales and use tax exemptions for the Commission on Long Term Fiscal Stability.

These resources provide a roadmap to Colorado's revenue options, a roadmap that would get us back on stronger footing, make sure the budget isn't balanced on the backs of any one community, and help strenghten investment in our future.