With just 10 days left in the 2018 legislative session, Colorado’s elected leaders have yet to come to a compromise in order to increase transportation funding or reduce the state’s $32 billion unfunded pension liability.
Both legislative and business leaders say they remain optimistic that there will be a negotiated solution, both on putting money into roads and transit and on bringing the Public Employees Retirement Association back to actuarial soundness and averting a forewarned downgrade of the state’s bond rating. But details on how Democrats who control the Colorado House and Republicans who have a majority in the Colorado Senate will close some wide ideological gaps on the subjects.
The answers may become apparent right away. The PERA reform bill, which has passed the Senate, is scheduled for debate on the House floor Monday. And the $3.5 billion road-bonding Senate Bill 1 proposal will get its first hearing in a House committee Wednesday afternoon after clearing the Senate unanimously more than a month ago.
Denver Metro Chamber of Commerce President/CEO Kelly Brough, who has been talking with legislators regarding both transportation funding and pension reform, said that continues to believe that something will get done on both of those topics — partly because this is an election year and voters are expecting the Legislature to come up with solutions after years of inaction on both fronts.
Read more at the Denver Business Journal: https://bit.ly/2FsqenJ