Economic Opportunity

The state should contribute at least $1 million each year to fund a statewide IDA program. That would help double the number of low-income families that can participate in an IDA program. It should also make the tax credit permanent for those who contribute matching funds to IDA programs.

The legislature should create and fund a state micro-enterprise development authority to award grants to qualifying organizations, leverage additional funding sources, and be an information network and state advocate for micro-enterprise organizations and micro-business owners.

Colorado's political, business and community leaders should encourage employers to use automatic enrollment for 401(k) pension plans. We should also educate workers about the value of participating in these plans and of increasing contributions over time to meet retirement needs. Automatic enrollment is allowed under federal law, and pension reform legislation passed by Congress in August provides additional incentives to do so.

Colorado should raise the minimum wage from $5.15 to at least $6.85 an hour, and we should adjust the minimum wage to inflation every year thereafter. This will increase the incomes of the lowest-paid workers by $1.70 an hour, or $3,500 per year, and help them keep up with the rising costs of necessities such as food, health care, gas and housing.

WASHINGTON, D.C. - More than one in four American working families now earn wages so low that they have difficulty surviving financially, a new report concludes. The report finds that too many jobs pay poor wages and provide no benefits, and that American workers are poorly prepared and supported to move into better paying jobs.

DENVER, CO???.The Bell Policy Center, along with a broad coalition of nonprofit organizations, is calling on the state legislature to expand Colorado's Earned Income Tax Credit (EITC) and make it permanent by supporting House Bill 05-1232.

Colorado should continue to carefully target economic development incentives to create jobs that pay self-sufficient wages, provide health insurance and retirement benefits and contribute to the overall economic well being of the state. Let???s also make sure economic development incentives continue to be transparent, so we know which businesses receive incentives, how much they get, and how many and what kind of jobs they create.

This issue brief provides a one-year update for several of the indicators included in the Bell???s April 2004 report, "Opportunity Lost: When Hard Work Isn't Enough for Colorado's Working Families."

State government can lead the way by insisting that all state buildings, whether state-owned or leased, meet the highest standards for energy efficiency. State government should also convert its fleet to alternative fuel and hybrid vehicles as quickly as possible. The Office of Economic Development should also target more of its grant and loan portfolio toward projects that promote renewable energy technologies.

This bill represents a net opportunity gain for Colorado. SB 06-134 eliminates the asset limit as a condition of eligibility for Colorado Works or Temporary Assistance for Needy Families (TANF).