Colorado House Democrats

Democrats Celebrate Successful Session that "Invests in Kids"

Session ends 1 day early, saving taxpayers $15,400

(Denver) House Democrats gathered on the west steps of the Capitol today to celebrate a successful 2008 legislative session.  Over the past 119 days, Democrats have invested in Colorado’s kids -- their health, their green future, their education – so they can get a good job in a thriving economy.

Outgoing Speaker of the House Andrew Romanoff opened the rally with these comments, “As the dust settles on this year’s legislative session, one conclusion is clear: children came out on top.”

The Second Regular Session of the 66^th General Assembly marked the fourth year that House Democrats served in the majority, as well as the last session for both Speaker Romanoff and Majority Leader Alice Madden.  Of each legislator’s tenure in the General Assembly, both were clear that this was the single best session for kids.

Outgoing Majority Leader Alice Madden echoed Romanoff’s enthusiasm about the productive steps the legislature took to improve the lives of Coloradans.

“After you give birth to two kids and then chase them around for 17 years, there is nothing you take more seriously than their well-being.  Our legacy will be the type of world we leave them. As a parent and a lawmaker, that’s what has directed me.  So I’m proud we did exactly what we promised to do on opening day: we invested in kids.” 

She pointed to 2008 legislature’s achievements, including ongoing efforts to make grow Colorado’s economy and provide jobs in one of the strongest new energy economies in the world.

“In 2008, we turbocharged our efforts to open the new energy economy to all Coloradans,” Rep. Madden said. “These efforts to improve the clean energy economy have brought high paying, ‘green collar’ jobs to our state.”

“This was a great year to be a kid in Colorado,” continued Speaker Romanoff.   “We did more good for more children in more need than at any other point in modern memory.”

The legislature came to a close today at 9:30 PM, a day early, saving Colorado taxpayers $15,400.

-- Posted by staff

Forecolsure Reduction Bill Passes House

DENVER – Recognizing the growing urgency for Colorado families facing serious debt, State Representatives Sara Gagliardi (D-Arvada) and Mark Ferrandino (D-Denver) carried a bill through the House to stem the foreclosure epidemic and potentially help thousands Colorado families stay in their homes. 

“Families are suffering, neighborhoods are suffering, whole communities are suffering because of the foreclosure epidemic,” said Rep. Gagliardi.  “But with the right outreach, the right counseling, and debt reduction support, thousands of foreclosures may be avoidable.”

House Bill 1402 – which passed the House 40- 24 – would provide homeowners with more opportunities –counseling assistance and outreach efforts – to save their homes from foreclosure without providing any bailouts or government dollars.  The bill also encourages banks to make a good faith effort to find a resolution to bad debt.

Specifically, the bill establishes and finances a meaningful outreach and education program, to provide at-risk borrowers in at-risk communities important information about the Colorado Foreclosure Hotline and other debt counseling services.     

SAFE Support Strengthens

Broad Coalition Testifies in Support of the
“Savings Account For Education”

DENVER – A coalition of business, education, children’s advocacy, and civics groups testified in favor of SAFE, the Savings Account for Education, a bi-partisan proposal led by Speaker Andrew Romanoff (D-Denver) and Senator Steve Johnson (R-Larimer).

Testifying in support of the proposal Tuesday afternoon were Attorney General John Suthers, State Treasurer Cary Kennedy, the Colorado Association of School Boards, the Colorado Children’s Campaign, as well as a number of other business and community leaders.

Only one witness testified in opposition to the proposal, referring to education as a “pet project” and dismissing supporters as “special interests.”

“Public schools aren’t ‘pet projects,’” Romanoff said. “Investing in education is the best way to strengthen our economy. And a strong economy is in everyone’s interest.”

House Concurrent Resolution 1014 will be before the House State, Veterans, and Military Affairs committee again on Wednesday morning for action only.

-- Posted by staff

Piggy Bank Lessons

Today is National Teach Children to Save Day

(Denver) Each year, teenagers in America spend $180 billion, or $104 each week.  To prevent these spending habits from leading to bankruptcy and indebtedness, Governor Bill Ritter has proclaimed April 29^th, 2008 as National Teach Children to Save Day. 

Earlier this year, a financial advisor from Edward Jones, Tom McLean of Westminster, asked his State Representative Debbie Benefield (D-Westminster) to propose National Teach Children to Save Day in Colorado, to promote financial literacy and responsibility among Colorado’s youth.

In the 1980’s, Americans saved 9 cents on every dollar that they earned. During the 90’s, they only saved a nickel. The most recent reports indicate that Americans are spending more than they earn, and have a negative savings rate of 0.5 cents. 

Accordingly, Tom McLean and several other financial advisors and bankers from the American Bankers Association will be participating in National Teach Children to Save Day.  Mr. McLean will be visiting 1^st and 3^rd grade classrooms in Westminster to raise financial awareness.  Throughout the week, he will be giving lessons, piggy bank in hand, at 4 elementary schools: Tarver, Arapahoe Ridge, Hunter’s Glenn, and Le Roy. 

“Basic education in financial and economic literacy help form lifetime savings habits and the wise use of credit,” Rep. Benefield said.

Although the program is directed towards America’s youth, National Teach Children to Save Day serves to remind everyone about the importance of fiscal responsibility.

The proclamation is timely, given that a financial literacy education bill, House Bill 1168, is making its way to the Governor’s desk.  Sponsored by State Representative Rosemary Marshall (D-Denver), the bill advises Colorado schools to integrate financial literacy education as part of the math curriculum. If passed, students will be taught penny-saving smarts throughout their K-12 education years.

“We know that Americans are spending more and saving less.  This is a proactive plan to teach our children how to manage money and avoid credit card debt down the road” Rep. Marshall stated.

The bill comes in response to sobering information about young people's financial acumen.  Despite spending $150 billion annually, a 2006 nationwide study showed only 52 percent of young Americans demonstrated sufficient personal financial literacy, and the average high school senior only answered 48 percent of questions about economics and finance correctly.

House Bill 1168 has passed the House and now awaits approval from the full Senate, where it is sponsored by Senator Chris Romer (D-Denver).

-- Posted by staff

West Slope Legislator Helps Keep Heat on During Long Winters

More Colorado families to depend on LEAP with looming recession

(Denver) As energy costs continue to rise, it is increasingly difficult for Colorado's most vulnerable residents to afford their home energy expenses. Families with children, senior citizens and individuals with special needs must allocate more of their limited resources to pay their energy bills.

State Representative Bernie Buescher (D-Grand Junction) is the sponsor of House Bill 1387, to expand the Low-Income Energy Assistance Funding, or LEAP.  The successful program has helped thousands of Colorado families keep their heat on during the long winter months.  The bill passed the House today on a vote of 52 to 13 and now heads to the Senate for full consideration, where it is sponsored by Senator Jennifer Veiga (D-Denver).

“Sometimes families go without necessities like medical care and food in order to keep the lights on.  The LEAP program gives relief to families who are forced to make these tough choices,” Rep. Buescher explained.

The bill creates an extension to a previous law while providing additional funding for an anticipated shortfall in funding in 2009.  Specifically, the funds will continue to be used to provide cash assistance to vulnerable households in addition to taking steps to make homes more energy efficient and safe.

Sun Rises Over New Era of Solar Energy

Bill continues expansion of Colorado’s New Energy Economy

Denver – On Friday, after concurring with Senate amendments, the House sent a bill to Governor Ritter helping Colorado take full advantage of its solar resources by opening the market to large – or utility – scale solar energy production. 

“If Colorado developed just two percent of its solar resources, it could meet half its energy demand,” said State Representative Judy Solano (D-Brighton), the prime sponsor of House Bill 1164.  “By investing in large-scale solar, we’re making good on our commitment to work toward genuine energy independence and to reduce the impacts of global warming.” 

The bill helps the state lessen its carbon footprint by opening the market to the creation of new energy technologies, including utility-scale solar power production.  It also asks the Colorado Public Utilities Commission to consider purchasing utility-scale solar energy when it’s feasible to do so, and to take into account the future cost of carbon-based energy sources and the impact of greenhouse gasses when purchasing energy.   

“Colorado has 300 days of sunshine annually; it’s one of the sunniest states in the country,” Rep. Solano continued.  “Southern Colorado in particular has the best solar resources for utility-scale solar in the country.  By tapping into this potent source of power, we can significantly reduce our overall energy costs – especially during the summer months, when energy consumption peaks.”

Colorado has one of the five largest potential solar markets in the nation. The San Luis Valley in southern Colorado – which is currently experiencing an economic downturn – could significantly benefit from the passage of HB 1164; it has been identified as one of the best solar energy producing regions in the nation.  Estimates suggest that even one large scale solar plant could lead to as many as 250 new high-skilled jobs and as much as $2 billion in private investment. 

The bill, which was also sponsored by State Senator Gail Schwartz (D-Snowmass Village), now awaits final action by the Governor.

-- Posted by staff

Major Foreclosure Bill Unveiled

Lawmakers Propose The American Dream Protection Act of 2008

(DENVER) Legislators and supporters gathered in a middle-class west Denver neighborhood today to announce a plan to provide deserving homeowners with more opportunities to save their homes from foreclosure -- without government bailouts.

Representatives Mark Ferrandino (D-Denver) and Sara Gagliardi (D-JeffCo) stood in the midst of a neighborhood hard-hit by foreclosure to unveil the American Dream Protection Act of 2008.

“Foreclosures are skyrocketing and people are losing their homes. The American Dream is at risk in Colorado,” said Rep. Gagliardi.  “Abandoned houses litter neighborhoods all over the state.  Some people lose their homes because they were misled by greedy banks; some, because of bad luck. And some homeowners are losing their houses because they made poor choices.” 

“But most people take personal responsibility and work tirelessly to save their homes and prevent foreclosure.  We need to help hard-working, responsible Coloradans save their homes and protect their American Dream, without a government bailout.  That’s why, this week, we are introducing legislation that will make foreclosure the option of last resort – for mortgage lenders and homeowners,” Rep. Gagliardi announced.

The American Dream Protection Act of 2008 provides homeowners with more opportunities – time, communication, and counseling assistance – to save their homes from foreclosure without providing any bailouts or government dollars.         

       The bill does two things:

• Empowers a judge to grant a ninety-day Foreclosure Temporary Time-Out to borrowers if the bank has not demonstrated a good faith effort to negotiate, and if the homeowner has demonstrated a commitment to saving their house.

• It places new notification requirements on mortgage lenders before they foreclose. Lenders need to make their best efforts to contact people who fall behind in payments to tell them about mortgage counseling assistance that could help them save their homes.  It also directs the banks to make a good faith effort to find a resolution. 

-- Posted by staff

Rep. Curry Helps Protect Colorado's New Communities from Drought

DENVER – State Representative Kathleen Curry (D-Gunnison) knows the importance of having adequate water.  Her district, which includes Crested Butte, Gunnison and Glenwood Springs, is in the midst of one of the largest energy booms in the country, and has one of the fastest-growing populations in the state.  It is also one of the areas hardest hit by Colorado’s most recent drought.   

Recognizing the need to safeguard Colorado’s water resources, Rep. Curry took on the challenge of sponsoring a bill that will help ensure developers identify adequate water supplies before new developments are approved. 

“It’s tempting to just grow and grow and grow,” said Rep. Curry on Monday.  “New development brings new jobs and can lift a whole economy.  But if we’re not careful – if we don’t develop Colorado responsibly – Colorado’s homeowners will be left without water.”

The Colorado House of Representatives recently passed Curry’s House Bill 1141, with a bi-partisan vote of 46 to 18.  The bill will provide cities, counties and others making planning decisions with verification of the adequacy of proposed water supplies before they approve new developments.

Rep. Marshall's Financial Literacy Bill Passes House

Program would educate Colorado kids about the power of economic opportunity

DENVER – As the prices for gas and basic consumer staples soar, the U.S. dollar weakens, and a credit crisis prompted by last year’s subprime mortgage disaster continues, Coloradans are feeling the pinch.  Foreclosures in Colorado alone were up 40 percent in 2007 – going from 28,509 to 39,915.

Recognizing the need for greater financial literacy, the Colorado House of Representatives took a tremendous step forward today.  Under the leadership of State Representative Rosemary Marshall, the House passed a bill creating financial literacy and educational standards for Colorado’s public school systems.  House Bill 1168, which passed on a sweeping 61 - 2 vote, would help all Colorado students acquire the financial tools needed to succeed in a 21^st century economy. 

“Too many young people don’t understand how devastating credit card debt can be, and frankly, it’s because they don’t learn about it in school,” Rep. Marshall commented.  “But with the appropriate teaching, our kids can grasp the importance of savings, the power of economic opportunity, and the benefits of investing for the long term.  That teaching will make them better consumers too.”

The bill requires the State Board of Education to adopt model content standards incorporating financial literacy into existing math curricula.  School districts would then be directed to meet or exceed those new financial literacy standards. 

The bill was drafted in response to sobering information about young people’s financial acumen.  Despite spending $150 billion annually, a 2006 nationwide survey showed only 52 percent of high school seniors demonstrated sufficient personal financial literacy, and the average high school senior only answered 48 percent of questions about economics and finance correctly.  This new data comes at a time when a record 40 percent of high school juniors and seniors are estimated to have credit cards.

“We know that if kids are given the right tools, they are less likely to be dragged under by torrents of debt and held under by bad credit,” Rep. Marshall continued.  “This bill is offers a genuine lifeboat to kids who would otherwise be lost in a troubled financial sea.”

HB 1168 now moves to the Senate, where it is being sponsored by State Senator Chris Romer (D-Denver). 

-- Posted by staff

Rep. Marshall Helps Colorado Kids Start on Right Financial Foot

DENVER – April is Financial Literacy Month, and the need for financial literacy is particularly evident this year.  Coloradans are being hurt by a slumping U.S. economy, a weakening dollar and a credit crisis compounded by last year’s subprime mortgage disaster.  Foreclosures in Colorado alone were up 40 percent in 2007 – going from 28,509 to 39,915.     

Recognizing the need for greater financial literacy, the Colorado House of Representatives took a tremendous step forward today.  Under the leadership of State Representative Rosemary Marshall, the full House passed a bill creating financial literacy and educational standards for Colorado’s public school systems.  House Bill 1168, which passed on a voice vote, would help all Colorado students gain the financial tools needed to succeed in a 21^st Century economy. 

“Too many young people don’t understand how devastating credit card debt can be, and run it up on things like clothes, entertainment and electronic gizmos,” Rep. Marshall commented.  “But with the appropriate teaching, our students can grasp the importance of savings, the power of economic opportunity, and the benefits of investing for the long term.”

The bill requires the State Board of Education to adopt model content standards incorporating financial literacy into existing math curricula.  School districts would then be directed to meet or exceed those new financial literacy standards. 

The bill comes in response to sobering information about young people’s financial acumen.  Despite spending $150 billion annually, a 2006 nationwide study showed only 52 percent of young Americans demonstrated sufficient personal financial literacy, and the average high school senior only answered 48 percent of questions about economics and finance correctly. 

“We know that if kids are given the right tools, they are less likely to be dragged under by torrents of debt and held under by bad credit,” Rep. Marshall continued.  “This bill is offers a genuine lifeboat to kids lost in an otherwise troubled financial sea.”

HB 1168 awaits a final vote in the House before moving to the Senate, where it is being sponsored by State Senator Chris Romer (D-Denver).

-- Posted by staff