CEDP Statement on Passage of Federal Tax and Spending Legislation
Today, Congress passed the Republican budget bill, a devastating blow to thousands of working families in Colorado. Below is the statement from Community Economic Defense Project (CEDP) about the harm this bill will cause Coloradans:
“The passage of this cruel federal legislation is a devastating betrayal of people across Colorado who are struggling to make ends meet. Far from living up to its name, this bill will inflict severe hardship on hundreds of thousands of families across our state and the country. At a time when people are struggling to afford rent, access healthcare, and feed their families, this bill strips away essential support and hands billions in tax breaks to the wealthy. This is not reform, it is a deliberate wealth transfer.
“At a time when Colorado families are facing record-high evictions and rising cost of living, this bill deepens the crisis. Cuts to Medicaid, SNAP, and other vital safety net programs will cause deep suffering, jeopardizing people’s health, safety, and overall well being. We know that it will cause more people to experience hunger and homelessness.
“And the harm doesn’t end there. This legislation creates a massive strain on our state’s budget, with hundreds of millions in new costs for Medicaid and SNAP and a projected $600 million loss in annual tax revenue. At the same time, anticipated cuts to the Department of Housing and Urban Development threaten to further erode the already fragile housing safety net many families rely on. This bill is a catalyst for an escalating crisis that will harm the most vulnerable among us.
“In the coming weeks and months, state and local leaders will face difficult decisions about how to shield Coloradans from the bill’s most harmful effects. We urge them to act with urgency, clarity, and a commitment to putting people first because budgets are more than numbers; they are statements of our values. We will continue working alongside communities to demand policies that reflect our shared values and meet this moment with the urgency it requires.”