The Democratic leaders of both houses of the General Assembly will create a joint Job Growth and Economic Growth Committee to develop ways of strengthening Colorado's economy.
The committee is to develop possible legislative approaches to strengthening Colorado’s small businesses and non-profits, improve the state's infrastructure, expand its "New Energy Economy," and stimulate job growth in rural areas.
"Colorado can't wait for a future federal bailout," Sen. Peter Groff, the senate president, said. "We have serious issues to address right now, and it is up to us to find new ways to address these economic challenges."
Carroll said that he and Groff moved to establish the committee because they expect economic conditions to worsen.
“The national economic forecast is bleak; economic indicators suggest the U.S. faces a potentially deep recession,” Carroll, the speaker-designate of the House, said. “Colorado, with its diversified economy and well-trained workforce, has fared better than the nation as a whole. But our state is not immune to those forces driving the economic downturn."
The committee, which will have ten senators and representatives drawn from both parties among its members, will make recommendations to the General Assembly in January.
Colorado's economy appears to be performing, at least in some ways, better than the national economy. The state has experienced 26 consecutive months of job growth and its unemployment rate is nearly one full percentage point lower than the national rate.