Critics of Iran nuclear deal push divestiture measure for 2016 ballot
In the shadow of the nuclear deal with Iran, Colorado critics announced an effort Tuesday to block any investment of state dollars with corporations that do business with state sponsors of terrorism.
House Minority Leader Mark Waller, R-Colorado Springs, addresses his colleagues on the last day of the 2013 session. (Ed Andrieski, The Associated Press)
The Colorado move will take the form of a citizen-led ballot measure to change state law or the constitution — organizers have yet to decide on an exact strategy — for the 2016 election. Lawrence, R-Douglas County, also said she is considering introducing legislation to the same effect in next year’s session.
As part of the initiative process, the measure’s supporters must gather signatures to get it on the ballot. Lawrence said that “having folks go out and collect signatures will give legitimacy to the fact the folks of Colorado do not like this deal.”
Rep. Polly Lawrence,
R-Douglas County
R-Douglas County
Right now, Colorado does not have a law banning investments with Iran. But the state’s Public Employee Retirement Associationcurrently monitors companies that do business with Iran and may decide to divest if it is deemed a risk, according to its policy. A PERA spokeswoman refused to comment Tuesday on the potential 2016 ballot measure.
In 2007, Gov. Bill Ritter signed a measure to prohibit the state from investing public pension funds in companies with ties to the Sudanese government amid the genocide in the Darfur region.
Waller, an honorary national chairman for the organization, said the campaign is a response to a provision in the nuclear deal that suggests the U.S. government should take steps to remove any state or local level laws aimed at sanctioning Iran. He said the exact language of the ballot measure is not yet finalized.
“Effectively, what we are looking to do here is simply say to the legislature, say to the federal government, that we don’t want Colorado tax dollars to be invested in … Iran,” Waller said.
Pot Revenue Is So High in Colorado, State Will Have to Reimburse Taxpayers
When Colorado decided to legalize the recreational use of marijuana, everyone expected the state’s tax revenue to increase. What they didn’t realize at the time was that the state government might actually maketoo much money. So far the state has earned over $150 million from the 30% tax on pot, which exceeded expectations.
Now they may have to pay some of that money back to the taxpayers. According to a 1992 amendment to Colorado’s constitution called the ‘Taxpayer Bill of Rights’ when the state earns more than they anticipated from a given industry, they have to return the difference to the people. When pot was first legalized the state didn’t expect a whole lot of money, so they underestimated future profits. Now they’ll have to find some way to give $50 million back to the public.
What’s especially funny about this situation, is how the money-grubbing politicians in Colorado are reacting to the news. Neither political party wants to give up the money, and lawmakers are currently working on abipartisan bill that would ask the voters if they can keep their loot. I guess there’s only one issue that is guaranteed to unite Republicans and Democrats, and that is taking more money from the public.
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Contributed by Joshua Krause of The Daily Sheeple.
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