Jump to full article: Grand Junction (CO) Daily Sentinel, 2006-03-22
Author: DANIE HARRELSON The Daily Sentinel
Intro: Mark Hillman called on the Legislature Tuesday to cash in Colorado's share of the $206 billion tobacco settlement that states and tobacco companies agreed to in 1998.
A lump payment now means the state gives up annual tobacco payments of roughly $100 million over several decades and settles for a one-time payment of approximately $1.3 billion.
Hillman, appointed interim treasurer last June when Mike Coffman headed off to Iraq, cautioned against holding off on collecting in full the tobacco proceeds promised the state.
"If we don't securitize now, while the market is near its peak, our fiscal fate will remain linked to that of Big Tobacco," Hillman wrote. . . .
"Colorado government should no longer send the mixed message to citizens that 'we want you to stop smoking' because it's terrible for your health but 'we need you to keep smoking' to pay for government programs," Hillman wrote.
Jump to full article » |