From the Boulder Daily Camera (per Rocky Mountain News):
Ritter endorsed a citizens initiative Thursday to eliminate a property tax credit for the oil and gas industry unique to Colorado. Killing the tax credit would bring the state about $200 million more a year.
Under the plan, 60 percent would go toward “Colorado Promise” scholarships to help families pay for college. The other 40 percent would be divided among projects to help communities offset the impacts of the oil and gas industry, set aside wildlife habitat and develop renewable energy sources.
Ok, higher ed funding is in the toilet (flushing the state's future away with it). Governor Ritter is stepping up with a great way to get money in there. And he is doing so from a source that has had a tax-free ride from the state forever and is choking in profits.
Not only that, but Ritter is sending the dollars with the student so the better schools will see more of the money. Imagine that, schools will have to deliver to get the money.
So what is the response from our stewards of higher ed to the fact that they have to earn the bucks by pulling in the students rather than have a guaranteed stream of money regardless?
Even so, some college presidents remained critical of Ritter’s decision to back a ballot initiative to increase state revenues from oil and gas drilling to help families pay for college, instead of using the money to fill depleted campus budgets.
The real winner here is Bruce Benson, ex-oil & gas tycoon who had this to say about where the money is coming from.
“I mean, I said to him, ‘Don’t go out there and try to throw a severance tax (increase) without a quid pro quo,’ ” said Benson, who built a fortune in the oil and gas industry. “If you want oil and gas to become neutral, you have to do something that’s going to help them, and not hurt them.“
Yes, heaven forbid that oil & gas be made to pay their fair share. Benson's day job may be as president of C.U. but his heart is still clearly with his poor suffering fellow millionaires.
So kudos to Bill Ritter both for an initiative that makes a big start on fixing our funding issues for higher ed and makes college more affordable. And does so in a very equitable way.
And a big %#*$@ to Bruce Benson who has made it clear that C.U. comes second to outrageous profits and minimal taxes for his buddies. How long are we stuck with this bozo before we can hire a president at C.U. who puts C.U. first?
