DON'T BE FOOLED
PROP 109 WON'T FIX A DAMN THING
$3.5 BILLION IN NEW DEBT WE CAN'T AFFORD
With no sustainable way to repay the bonds issued by Prop 109, Colorado must set aside $260 million each year for the next two decades.
This will force deep cuts to state spending on schools, hospitals, public colleges, and child care.
Proposition 109 won't fix Colorado's roads, but it will cost us.
WHAT DOES $260 MILLION
LOOK LIKE IN COLORADO?
INDEBTED TO WALL STREET
Think of Prop 109's bonds like a credit card. If a payment is missed or late, rates go up and you pay more. To make sure rates don’t creep up, the Colorado legislature will have to prioritize repaying the bonds.
When it's time to collect, the Wall Street hedge funds bankrolling Prop 109 will push to the front of the line. Police, first responders, schools, health care, and other important priorities you and your family depend on will be left fighting for scraps of a shrinking budget.
IS PUBLIC TRANSIT COVERED? NOPE
Prop 109 will do nothing to increase or improve transportation priorities outside of roads and bridges (well, the ones covered in its specific list of 66 projects).
No funding will be directed to any type of public transportation, rail expansion, or any environmentally friendly methods of transit, like biking or walking paths.
BILLIONS IN BACKLOG
Transportation funding doesn't regularly come from the state General Fund, but over the last two years, the Colorado legislature put $3 billion toward transportation needs.
In 2017, the legislature authorized the sale and lease-back of state buildings, with much of the resulting revenue — $1.5 billion in total — to go to transportation projects.
In the 2018, the legislature put $645 million over two years from existing state revenues toward transportation. This doesn't include the additional $50 million per year over the next 18 years to pay down our current transportation backlog — $9 billion according to CDOT.
"With public school funding and Medicaid, the state should not be in the position of having to decide between those two critical categories and many other smaller programs supported by the General Fund to meet a bond payment for highways."