Economy

U.S. to hit debt limit much sooner than expected, thrusting Congress into showdown

BY: - January 14, 2023

WASHINGTON — The U.S. government will hit its borrowing limit next week, forcing the new, divided Congress into negotiations over the debt limit much sooner than expected, though a potential date for the nation to default isn’t expected until this summer. Treasury Secretary Janet Yellen wrote to Congress on Friday afternoon, telling leaders the United […]

States that limit business with banks that boycott fossil fuels could pay high cost, study says

BY: - January 13, 2023

Republican state policymakers’ efforts to boost fossil fuels by prohibiting their governments from doing business with companies that take sustainability into consideration has the potential to cost states millions, according to a study released Thursday. Researchers looked specifically at the possible effects on Florida, Kentucky, Louisiana, Missouri, Oklahoma and West Virginia if they passed Texas-like […]

U.S. House passes legislation barring sales of strategic reserve oil to China

BY: - January 12, 2023

U.S. House Republicans wrapped up their first week in the majority Thursday by passing with bipartisan support a bill to prohibit the Energy Department from selling the nation’s stockpile of crude oil to China or affiliated entities. The bill, written by Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers, a Republican from Washington, would prevent […]

New report downplays economic impact of Colorado’s oil and gas industry

BY: - January 9, 2023

Monthly oil production in Colorado rebounded to over 80% of pre-pandemic levels in 2022, putting it on track to produce more oil than all but four other states. But with employment and wages in the industry still down from 2019 highs, a new report seeks to challenge what has long been an article of faith […]

Child tax credit expansion left out of congressional omnibus package

BY: - December 20, 2022

WASHINGTON — Any last hopes of resurrecting the expanded child tax credit as part of Congress’ massive spending package were dashed early Tuesday when the 4,155-page bill was released without a mention of the tax benefit. The temporary expanded child tax credit, part of a COVID-19 relief deal in 2021, allowed more low-income families, including […]

Voters embraced affordable housing initiatives. Advocates say Congress should do the same.

BY: - December 15, 2022

Voters in Colorado approved a statewide affordable housing initiative in November; while voters in nine cities across the country OK’d measures to finance the construction of affordable housing, preserve existing rental properties and support renters. But as housing costs soar, analysts and advocates say more needs to be done and argue that federal action is […]

Here’s why food prices remain stubbornly high even as inflation cools

BY: - December 14, 2022

Shoppers hoping for a little relief at the grocery store for their holiday meals will be disappointed by the Consumer Price Index released Tuesday. The CPI shows inflation cooling but food prices — particularly for some holiday staples — remain high. The CPI increased 0.1% in November, which was lower than some economists expected. Over […]

FTX failure divides lawmakers on how tough to get with crypto regulation

BY: - December 13, 2022

Members of a U.S. House committee disagreed at a Tuesday hearing about whether more aggressive federal regulation would have protected customers from the collapse of cryptocurrency firm FTX and the alleged fraud of its founder, Samuel Bankman-Fried. Lawmakers at the four-hour House Financial Services Committee hearing appeared to view the unfolding scandal around Bankman-Fried, arrested […]

Colorado attorney general opposes Kroger-Albertsons merger, dividend payout to investors

BY: - December 9, 2022

Colorado Attorney General Phil Weiser filed a brief this week urging a Washington state court to block Albertsons’ $4 billion payout to investors during the review of the company’s merger with Kroger.  In a news release Thursday, Weiser reiterated his concerns behind the Kroger-Albertsons merger, into which his office is leading a multistate investigation. The […]

Here’s when drug prices will start to decrease for Medicare recipients

BY: - December 6, 2022

Starting next month, a $35 cap on insulin prices will go into effect for millions of Medicare recipients. The lower pricing is one of the first of several policy measures Americans will see in the coming months and years under the Inflation Reduction Act signed into law in August. The bill also requires pharmaceutical companies […]

Despite FTX fallout, some U.S. House members still skeptical about crypto regulation

BY: - December 5, 2022

Nearly nine months after a bipartisan group of U.S. House members sent a letter questioning the Securities and Exchange Commission’s investigation into cryptocurrencies, including the failed FTX exchange, the lawmakers are maintaining their position that the agency’s approach to regulating crypto is deeply flawed. In public comments since FTX’s collapse last month, the congressmen, led […]

Gov. Polis’ budget proposal emphasizes preparedness for economic hardship

BY: - December 5, 2022

Colorado Gov. Jared Polis’ budget proposal for the 2023-24 fiscal year was designed to keep Colorado prepared for a financial rainy day with record high reserves while also investing in the state’s future, supporting thriving local communities and protecting the climate and clean air, his administration says.  A senior staff member with the governor’s Office […]