It’s no secret that Colorado is a great place to live and do business. The state has enjoyed a years-long pattern of business growth and low unemployment thanks to a strong and diverse economy, a skilled workforce and outstanding quality of life. But Amendment 69 threatens to bring Colorado’s vibrant growth to a halt.
The Amendment 69 issue on the November 8 general election ballot would establish a state-run health care system at a very high price – an estimated $25 billion in the first year alone. That amount would come from a new 10 percent tax that puts a burden on businesses and working families. It would also give Colorado the distinction of being the state with the highest taxes in the nation.
Being the highest-tax state would instantly affect Colorado’s prosperous economy in many ways:
- Companies may choose not to relocate to Colorado because it’s simply too expensive.
- Existing companies may move out of state to save on taxes and provide proven, trusted health care benefits for their employees.
- National companies with Colorado locations may decide it’s too much trouble to navigate multiple health care systems and make exceptions for their employees in Colorado.
- Workers and their families may relocate when they lose reliable coverage in favor of an untested state-run health plan.
- Because private insurance, Medicaid and Workers Compensation would go away, Colorado’s insurance industry would undergo a massive loss of jobs.
- Quality doctors and other health care providers, faced with lower reimbursements typical of government programs, will flee Colorado. Future medical professionals would go elsewhere to establish practices.
The effort to defeat Amendment 69 is coming from all quarters. Politicians on both sides of the aisle have denounced the plan, and business leaders are urging their colleagues and peers to join the effort. All agree that Amendment 69 would be a crushing blow to the Colorado economy.
Find out more about Amendment 69, including more details on how it would affect the success of your business, at the Coloradans for Coloradans website, or download a quick-read infographic with more facts. Please Vote No on 69 in November!
Source: BenefitMall and ColoradansforColoradans.com