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My personal musings about anything that gets on my radar screen--heavily dominated by politics.

2005-03-30

Another Plan On The Table

State Treasurer Mike Coffman will toss a new plan into Colorado’s budget debate today, which he calls a more conservative alternative to the compromise between Gov Bill Owens and the majority of legislators.

The key point of Coffman’s plan would be the creation of the “Colorado Reserve Fund”—basically, a rainy day fund: when times are tough, the legislature could dip into this fund to help balance the books. This fund would be filled initially by monies from the sell-off of the tobacco settlement. Pulling too much out of this fund would trigger limits on Amendment 23 spending.

In other words, it creates a savings account; when the legislature starts dipping into that account, they will be required to pull back on their spending.

I doubt this plan will get very far; I doubt this plan will get out of committee. But it was a good idea –especially from someone who wants to be Governor.
Posted by: Michael / 3/30/2005 03:12:00 PM

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