Economic future hinges on November ballot.

• Author: Berry, Chuck
• Position: Column

THE COLORADO ASSOCIATION OF Commerce and Industry is calling on the statewide business community to support voter approval of the state budget referendum that was passed by the Colorado General Assembly in April.

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For its part, CACI will work hard for the passage of this referendum because it is critical to the future economic health of our state. We look forward to working with Gov. Bill Owens, the legislative leadership and other business organizations to pass this measure in November.

CACI commends the governor, House Speaker Andrew Romanoff, Senate President Joan Fitz-Gerald and other key legislators for reaching a compromise on this proposal, and we also commend the senators and representatives who voted for HB-1194.

CACI is committed to educating its member businesses and their workers about what will happen to the state budget if the referendum is not passed by voters.

We anticipate that, if it is not approved, there will be serious cuts to, among other things, higher education as well as a continued lack of funding for construction and repair of our highways, roads and bridges.

According to legislative staff reports, the Colorado General Assembly is faced with cutting $561.5 million from the budget over the next five years, in addition to the $1.1 billion that was cut over the last four years.

Such cuts to our higher education system and the lack of investment in the state's highways and bridges will harm Colorado's economic climate and discourage business investment as well as the recruitment of new companies to our state.

The most important provisions of the budget proposal that will face the voters in November include:

* The state would keep the revenue that it is already collecting over a five-year-period rather than making refunds of revenues over the TABOR limits.

* In the sixth year, if the voters approve a bonded debt...