How Should Colorado Spend the Money?

Date: August 30, 2021

NFIB knows precisely where some of the federal ARPA funds should go

Very shortly, legislative leaders will assemble a group of policymakers to determine how the state should spend the $3.8 billion in federal American Rescue Plan Act (ARPA) money it will receive.

NFIB Colorado knows where a little over $1 billion of it should go: Back to the federal government to pay off the money the state borrowed to keep its unemployment insurance (UI) trust system solvent so unemployment benefits could keep flowing to the people who needed them.

“Using federal ARPA money to pay down or pay off the UI loans Colorado has taken from the federal government has been ruled allowable,” said Tony Gagliardi, NFIB Colorado state director. “There is not a better way to spur the state’s economy than by removing the worry small-business owners have over their UI taxes rising to stratospheric heights. They are Colorado’s biggest generator of jobs and helping them helps improve the employment picture.”

NFIB Colorado will center its lobbying efforts on UI trust fund relief. Members are invited to email their stories and concerns to Tony Gagliardi.

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