J. J. Ament On The Issues

An Independent Voice for the Taxpayers

As your State Treasurer I’ll be an independent voice for the taxpayers. The Colorado State Treasury is the constitutional custodian of the public’s funds and should be a guardian of your hard earned tax dollars.

For too long the office of the treasury has been influenced by the General Assembly and the Governor’s office. I’ll restore the independence of the Treasury and work with our elected officials to ensure our tax dollars are invested and spent wisely.

Colorado’s Chief Financial Officer

Colorado’s government spends about $18 billion annually with little to no financial coordination and innovation between government offices. Unlike many governments, Colorado does not have a Chief Financial Officer, and our current State Treasurer has not assumed this role. Therefore we do not have an executive with statewide authority to focus on the financial operations of government.

The custodian of the public’s funds should assume this role and show statewide leadership in protecting the people’s hard earned tax dollars. The Treasurer should sit at the financial intersection between the legislature and the Governor.

As your State Treasurer I promise to be an advocate for the taxpayers and a voice against reckless spending and government waste. I believe the State Treasurer has an obligation to champion sound fiscal policies to ensure tax dollars are not wasted on fiscal mismanagement in the Treasury department or anyplace else in government.

The State of Colorado's Fiscal Policy

There's no question that Colorado's fiscal policy making system is broken, and we need a hands-on Treasurer with the knowledge and experience to fix it.  The status quo is unsustainable, is hurting our economic recovery, and burdens too many families with new taxes and fees that are unaffordable.

Government routinely fails to properly prioritize spending, so worthwhile programs can be financially challenged while inefficient and ineffective programs continue unabated.  We need strong leadership from a State Treasurer who is willing to put sound fiscal policy ahead of politics. 

The current Treasurer recently explained our fiscal mess by saying "We have put this plane on autopilot, and the weather has changed."  As your State Treasurer, I will never let go of the fiscal controls and will work with the legislature and the community to steer the state back to fiscal responsibility.

Strong Advocate for Taxpayers and TABOR

Colorado has been protected from runaway government spending since 1992’s passage of the Taxpayer Bill of Rights (TABOR). I am the only candidate running for Treasurer who actually voted for TABOR as a citizen.

Still, even with TABOR requirements in place, the current Governor and Treasurer have repeatedly found ways to raise taxes and “fees” without asking the voters for permission. I will fight to end their policies that circumvent our taxpayer rights.

I will also honor the spirit of TABOR by making sure that taxpayers get the greatest value from the taxes the government does collect – and that financial scrutiny is applied to every single program.  Too often, spending and programs have been approved simply because they’re “allowed” under TABOR.  Just because something is “allowed” doesn’t mean that we should do it, and just because we have TABOR in place, doesn’t mean we should stop finding new ways to save taxpayers' money.

Managing the Taxpayers' Investments

The State Treasurer manages and directs all of the state’s investment of taxpayer funds.  At any given moment, as much as $6.5 billion of taxpayers’ money is under the management of the State Treasurer.  As Treasurer, I will end the politically-directed investment policies of the current Treasurer and insist that sound fiscal policy be restored as paramount in choosing which investments are appropriate and which are not.  The Treasurer, above all elected officeholders, must put sound fiscal policy ahead of the politics and emotion that frequently arise in the Capitol. 

Replacing one Treasurer’s politically-motivated investing with a new Treasurer’s politically-motivated investing is bad fiscal policy and puts taxpayers at risk.  Sound, conservative financial fundamentals must always be the focus of the Treasurer and the Treasury department, and will be when I am elected.  I will not allow the government to use your money to pick ‘winners’ and ‘losers’ in the private sector by directing investments to politically-favored industries & businesses while divesting from others.  Investment decisions need to be based on the risk/return attributes of each security, the market conditions then in existence, and the suitability of the investment for Colorado’s taxpayers.

Getting Rid of Government Waste

I’ll sound the alarm on wasteful and inefficient government spending in Colorado - the first step to getting Colorado back on track fiscally. Currently, Colorado rents nearly 3.5 million square feet of real estate on the open market. Even though the State is a tax-exempt and credit-worthy enterprise, it pays rent the same way a taxable, non-credit-worthy enterprise would, and it costs taxpayers a fortune.

The government rents office space for the Department of Personnel & Administration, the Department of Labor & Employment, the Secretary of State, the Department of Regulatory Agencies, the Department of Agriculture, the Department of Public Safety, and dozens of other offices.  Even the State Treasurer rents office space.

Believe it or not, we rent the Colorado Department of Public Health and Environment from a Canadian government's pension system -- even while our own pension system (see PERA below) is underfunded by $30 billion!

As your State Treasurer I will work tirelessly to eliminate government waste and make sure we're getting real value for Colorado taxpayers.

Bringing Real Transparency to the Treasury

The State Treasurer is the custodian of the state’s tax dollars and has the obligation to be transparent and forthright about the state’s finances. The current Treasurer claims that Colorado has suffered no losses during these volatile times, but the statement isn't completely true.

If you bought a home for $250,000 and property values went down lowering the value of that home to $200,000. Technically speaking you haven’t lost any money, but you can hardly say you have not been affected by the market. This story is analogous to the current Treasurer’s claims. The fact is, there are investments in the state’s portfolio that are worth less today than what taxpayers paid for them (and some are worth more).  We should be open and honest about both.

The standard for full disclosure must be higher than it is today. As your State Treasurer I will not obscure the state’s true financial picture behind technicalities, and I will make sure you can review easily how the government is spending your money. 

Restoring Trust and Stability in PERA

Today, the Public Employees Retirement Association’s unfunded liability is around $30 billion – and the status quo is unsustainable. State employees and retirees are at risk while taxpayers are exposed to an increasingly insurmountable financial obligation - just to sustain the current system.

The State Treasurer serves on PERA's board and has failed to show any leadership on solving this financial crisis.  I'll change that beginning day one.

As your State Treasurer I’ll bring transparency and accountability to PERA’s financial state and offer immediate, concrete steps to secure the promises made to our public employees while building a sustainable retirement system that is fair and affordable for employees and taxpayers.

I don't believe in unilaterally voiding financial contracts, so if you're a current PERA retiree or employee, your contracted & vested benefit rights should be honored.  That said, employees hired in the future need a retirement plan that does not expose them or their taxpayer-employer to the risks inherent in today's system.

Creating Win-Win Solutions

As a native of rural Colorado I understand the unique problems farmers and ranchers face trying to earn a living on the land. As a businessman I understand how changes in political policy can affect job creation and the economy.  As your State Treasurer, I’ll fight for sound fiscal policy that preserves Colorado’s unique combination of urban and rural lifestyles.

Safeguarding Education

I am a product of Colorado’s educational system – a rural public high school and a public Colorado university (the only candidate with this educational background).  I am committed to ensuring that all Coloradans have the educational opportunities that I received. Consistent and sustainable funding, innovation, broad choices, accountability, and creativity must all be parts of a next-generation education system.  I know how important access to a good education is, and the opportunities it creates for Colorado families, and I’ll fight to keep those opportunities available for everyone.

Standing Up for Our Values

Growing up on a farm & ranch in Northeast Colorado, I understand the importance of honesty, integrity, limited government, religious freedom, the right to keep and bear arms, and traditional family values.