DENVER | Republicans in the state Senate announced a plan Tuesday that they say could save families thousands of dollars a year, in large part by slashing energy and housing rules that they say are ineffective.
Speaking at the Colorado State Capitol, Senate Republicans called for a comprehensive review of energy codes and revamping the Colorado law that protects homeowners against faults in construction. They also said taxes on gasoline and cigarettes should be rolled back, and the fee on shopping bags eliminated.
Republicans highlighted their point by posing alongside a stack of dollar bills. Reaching more than a foot and a half, they totaled $4,500 — the amount GOP lawmakers claim Colorado families would save if their legislative package were adopted.
“It’s a bigger policy conversation that we’re asking people to engage in,” said Senate Minority Leader Paul Lundeen, R-Monument.
“We are seeking to turn the conversation from, ‘What can we do to make state government healthier and happier and have every last nickel it can get its hands on?’ to a policy conversation that says, ‘What can we do to put money back into the pocketbooks of the people of Colorado?’”
The proposals read as a wish list of things that Republicans in the state legislature would like to do. They break down into four categories: lowering the cost of housing, cutting the price of groceries and utilities, reducing transportation costs and cutting costs associated with regulatory compliance.
Taken together, the proposals would cut taxes and fees in Colorado by billions of dollars a year, as well as reducing the cost of living indirectly through lower utility and mortgage payments. But many Republican ideas would be politically problematic and likely to encounter fierce resistance in the Democratic-led General Assembly.
For instance, Republicans claim Colorado families would save $150 a year if fees on nicotine products were reduced. They say allowing nuclear power plants would lower energy bills by $910 a year.
Republicans claim the biggest savings would come from rolling back compliance with 2021 energy standards. Citing a lawsuit filed earlier this month by the National Association of Home Builders, Republicans claimed Colorado families would save as much as $3,780 a year in housing costs.
“Kind of the north star of so much of this — the big dollar savings for the people of Colorado — is wrapped around housing,” said Lundeen. “That’s where we can truly get the benefit.”
Republicans hope their proposals will attract some support from the Democratic majority. The most likely proposal to do so would be changing Colorado’s construction defects law. The Senate passed such a measure last year but it was never taken up in the Colorado House of Representatives.
Democratic Gov. Jared Polis has called on legislators to try again this year. He argues it could spur condominium construction, which has lagged in Colorado.
Republicans say a revised construction defects law would save families about $330 a year.
“By finally making changes that incentivize the construction of new affordable housing, Colorado families across the state can expect to save,” Senate Republicans said in a statement detailing their plan.
Be really careful about the GOP cutting regulations. They cut regulations for banks, and the 2008 financial crisis was the result. Do you want to cut regs on oil and gas production and allow Suncor to further degrade the neighborhood around their plant while they pay fines and continue to allow fugitive emissions? Do we want plastic bags all over or do we want to eliminate them? Don’t forget how they cut regulations for rail companies and now we have trains that are twice as long with half the number of conductors. Ask Palestine, Ohio how that’s working out. Cutting regulations cuts costs, but it also raises the aftermath cost of pollution or financial misdeeds, for which we all will pay a higher rate in the end. I lived near Houston, TX. The lack of regulation has turned many areas near Houston into dumps.
The following came directly from Google. As you can see, a big part of the financial crisis was due to Democrats insisting on reduced qualifications for home loans.
“The 2008 financial crisis, also known as the Great Recession, was caused by a number of factors, including:
Subprime mortgages: Low-income homebuyers were given loans with high interest rates and high loan-to-value ratios, known as subprime mortgages.
Housing bubble: The housing market experienced a boom, fueled by loose credit and speculation.
Financial deregulation: The financial sector was deregulated, which allowed financial institutions to take on more risk.
Lack of regulation: There was a lack of oversight of non-depository financial institutions.
Excessive risk-taking: Financial institutions took on too much risk.
Poor corporate governance: Financial firms acted recklessly and took on too much risk.
Inadequate policymaking: Policymakers were unprepared for the crisis and didn’t fully understand the financial system.
Systemic failures: There were systemic breaches in accountability and ethics. “
Loosening Colorado’s construction defects law may make it easier for developers to build condos in Colorado, but the result will clearly mean that the quality of that housing will decline. Does it make sense to reduce quality and transfer all of the liability on cash strapped home buyers? I think not! Fewer, safely built homes is better than more condos that are fire traps or houses that collapse due to poor foundations.