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Stories Posted on May 9, 2008
Big Guns Hired In Severance-Tax Fray
Category: Taxes · State: Colorado · Source: Rocky Mountain News
Well-known local political consultants will square off over a ballot initiative that would increase oil and gas tax revenue and create a huge college scholarship fund. David Kenney, an influential political insider who backed Ritter and worked on John Hickenlooper's reelection campaign, will be the campaign manager for the initiative. He said the campaign will be called "A Smarter Colorado" and will be funded by conservation, renewable energy and education advocacy groups. The ballot initiative, introduced last week, would remove a state credit that saves oil and gas firms about $200 million a year in severance taxes. The additional funds would help communities affected by oil and gas drilling, pay for college scholarships and fund water and wildlife projects.