DENVER METRO CHAMBER OF COMMERCE RELEASES STATEMENT ON HOUSE BILL 1420
The Denver Metro Chamber of Commerce released the following statement regarding House Bill 1420.
“The short-sighted view of the legislature is particularly concerning during this time of serious economic challenge for Coloradans. It makes no sense to close a budget gap by slowing the very engine that puts Coloradans to work and in return generates tax revenue. But, that is exactly what lawmakers are doing with House Bill 1420. This bill takes money away from employers, particularly our small businesses, at a time when they are already struggling to keep their doors open and their employees on payroll, and it eliminates much-needed tax relief for Colorado employers of every size, including sole proprietors. It complicates Colorado’s tax laws and drives up the cost of doing business in Colorado, slowing the economic recovery we are working so hard to achieve. We didn’t think it was possible, but House Bill 1420 creates even more uncertainty for employers and hurts their confidence, making them less likely to hire back employees and invest. What should drive every decision we make is the goal of putting Coloradans back to work safely. Just ask the more than 517,000 Coloradans who have filed for unemployment since March 1. If we want to solve our budget challenges, we have to get the economy back on track. House Bill 1420 does the opposite – putting more Coloradans’ jobs at risk, slowing economic recovery, hurting our small businesses and putting Colorado at a major disadvantage compared to other states,” said Kelly Brough, president and CEO of the Denver Metro Chamber of Commerce.