FOR IMMEDIATE RELEASE
Thursday, September 20th 2012
CONTACT: Joanne Schwartz, ProgressNow Colorado Executive Director at 303-991-1900
DENVER: The nonprofit organizations ProgressNow Colorado and the Center for American Progress Action Fund released a new report examining the economic and tax agenda of Gov. Mitt Romney and Rep. Paul Ryan, taking a close look at how their policies would affect the way Coloradans live and work.
“The costs of this election are clear and quantifiable,” said Joanne Schwartz, executive director of ProgressNow Colorado. “There are dramatically different economic visions being presented by our presidential candidates and many Coloradans are asking what this will mean at the kitchen table.”
The price tag includes:
- Middle-class Coloradans would pay more in taxes while millionaires pay less.
- Jobs would decline across Colorado.
- Drastic cuts to federal spending would shrink Colorado’s middle class.
- Seniors in Colorado would lose health care benefits and pay more.
- Women in Colorado would pay more for health care but receive less bang for their buck.
- Young adults in Colorado would lose access to their families’ health insurance.
The Romney-Ryan plan asks the vast majority of Americans to pay more, and then spends this revenue not on balancing the budget but rather on more tax breaks for the richest Americans
The full report can be downloaded here:
“Facts should matter in elections, and the fact is that Colorado families will see a tax increase, higher education costs, and pay more in health care under a Romney-Ryan administration,” said Tom Perriello, President of Center for American Progress Action. “Independent experts confirm that the Romney-Ryan plan asks the middle class to pay higher taxes, tuitions, and retirement costs to pay for over a trillion dollars of tax breaks for the billionaires and oil companies ‘investing’ in their campaign. The Romney-Ryan plan rigs the economy for the most powerful and asks the middle class to pick up the tab.”
Gov. Romney’s top direct donor would receive over $2 billion in direct tax benefits from under the Romney-Ryan plan, while a typical police officer in Denver who makes almost $64,000 a year would see their taxes increase by $1,200.
“The cost of a Romney-Ryan economy to working Coloradans is clear,” said Schwartz. “While the 4,400 millionaires in Colorado would see an additional tax cut of at least $87,000. The total costs for these tax cuts for all citizens in the state would be at least $380 million. The Romney-Ryan plan is a bad deal for Colorado.”