Wednesday, September 29, 2010

Proponents and opponents of Amendments 60 and 61 and Proposition 101 square off

Natalie Menten, arguing for Amendments 60 and 61 and Proposition 101, and Kelly Brough, the president/CEO of the Denver Metro Chamber of Commerce, who argued against them, squared off for the first time in front of the City Club of Denver. And their predictions about the effect of the measures were so different as to be incomparable.

Brough said, as business leaders have for months, that the spending reductions and near-ban on government-funded construction projects that the initiatives would bring would cause a loss of 73,000 jobs and take $6.3 billion in gross domestic product out of Colorado's economy. Based on normal economic cycles, it will take 50 years to recover those losses, she said, citing a study done for the group Coloradans for Responsible Reform by the budget director to former Gov. Bill Owens.

Menten, however, cited a recent Harvard University study showing that over the past 37 years, tax cuts have been the best way to spur economic growth in 21 separate countries recovering from recessions. When asked about the $6.3 billion figure, she questioned its accuracy.   - More -

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