Maximum Free-Market Enterprise
Bottom Line Up Front: Maximum Free Market Enterprise is essentially about trust: trusting individuals to know what’s best for their livelihood and creativity, rather than having bureaucrats micro-manage. We commit to fostering that trust environment, which will lead to a thriving economy benefiting all Coloradans with jobs, better products, and innovations that improve quality of life. Government’s role in the economy should be that of referee (ensuring fair play) not player controlling the game. By reaffirming that limited role, Colorado’s private sector will soar.
a. Economic Freedom: We champion Maximum Free Market Enterprise – an economy where businesses and individuals operate with minimal government interference, where voluntary exchange and competition drive prosperity. We believe free markets, undergirded by property rights and rule of law, produce the greatest innovation, lowest consumer prices, and most jobs. History and theory show that when entrepreneurs are free to create and trade, wealth is generated for society. Biblically, the parable of the talents (Matthew 25:14-30) commends industrious investment and enterprise, whereas burying talent yields nothing. Likewise, we want Coloradans to invest, build, and increase their “talents” without undue restraint. “Maximum” free market doesn’t mean zero regulation – fraud, force, and coercion must be policed, and some basic standards (health, safety) maintained. But it means regulations should be the exception not the norm, only where truly necessary. It also means low taxes, so businesses have capital to grow and individuals have money to spend or save (fueling enterprise).
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b. Current Colorado Reality: In recent years, Colorado’s regulatory burden has grown. We referenced earlier that Colorado is the 6th most regulated state with over 165,000 regulations on the books. Business leaders note our drop in business climate rankings. That’s a red flag. We must reverse this trajectory or we risk losing companies to freer states and stifling startups. The good news: Colorado still has much entrepreneurial spirit – we consistently rank high in startup activity and have a diversified economy (tech, aerospace, tourism, ag). We need to unleash that by cutting red tape. Meanwhile, Colorado’s tax climate is middling. Our flat income tax has come down to 4.4% and voters signaled support for lowering (Props 116 and 121 passed). We plan further reduction (see Income Tax Reduction). Our sales tax is moderate, but the patchwork of local sales taxes and the complexity of sales tax collection (especially online or for small biz) is a nightmare. We commit to simplifying that system to ease compliance burdens.
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c. Our Agenda for Free Market Enterprise:
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1. Regulatory Reduction: We will initiate a sweeping review of state regulations. Taking inspiration from places like Arizona or federal efforts, we could set a goal: eliminate two regulations for every new one, or flat-out target a 30% reduction in the Code of Colorado Regulations by end of term. This involves asking each agency to justify rules; if a rule is outdated, duplicative, or overly burdensome relative to its benefit, we cut it. We’ll work with the Colorado Office of Policy, Research and Regulatory Reform to accelerate sunset reviews and prune rules even mid-cycle. We can also empower a temporary Red Tape Reduction Task Force composed of business owners, economists, and legislators to identify top barriers. Areas likely to focus: occupational licensing (do we need licenses for things like interior designers or hair braiders? If not, drop them), environmental and labor regulations that go beyond federal baseline without clear added benefit, and overly prescriptive rules that stifle innovation. By cutting excess, we reduce compliance costs – effectively a tax cut that doesn’t reduce revenue.
2. Occupational Licensing Reform: Many professions in Colorado require licenses, some of which make sense (doctors) but others may be unnecessary barriers for entry-level workers (like requiring hundreds of hours for cosmetology). We’ll reduce required hours where possible, recognize out-of-state licenses more easily (universal licensing recognition to attract talent), and expand apprenticeship or experience pathways as alternatives to formal schooling for licensure. The guiding star: unless public health/safety is at risk, let people work without a permission slip. This will help especially lower-income and minority entrepreneurs who often lack resources to overcome licensing hurdles.
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3. Encourage Competition: We will scrutinize any state-sanctioned monopolies or anti-competitive statutes. For example, we support the “right to practice” reforms (if someone can offer a service safely, regs shouldn’t artificially limit supply). We might look at the healthcare sector – certificate of need laws or restrictions on where clinics can open are anti-free-market; Colorado doesn’t have CON for hospitals (we repealed in ’89), which is good – we’ll resist any attempt to bring it back. Another area: alcohol distribution tier laws or franchise laws that entrench incumbents; we’ll lean toward freer competition (within reason of public safety). Similarly, we will oppose union-backed efforts that might stifle independent contracting or franchising (like what California’s AB5 did); we want to keep gig and freelance economy open.
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4. Small Business Support: Free market means equal opportunity to compete. Big corporations often can handle regulation, but small businesses drown. Our deregulatory push inherently helps small biz. Additionally, we’ll create a Small Business Advocate office to help them navigate remaining regulations (one-stop help desk, so a restaurant opening doesn’t have to go to ten agencies). We’ll also raise the threshold for which businesses must comply with certain complex rules. E.g., exempt the smallest firms from certain reporting or from costly mandates (some states have “micro-business” exemptions). We also support expanding micro-loan programs (public-private partnerships) to help startups access capital – not picking winners but easing entry by solving market failures in credit for very small enterprises.
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5. Tax Cuts and Incentives: We are addressing taxes in other sections, but key here: lower corporate and individual taxes spur free enterprise by leaving more in private hands. We aim to gradually eliminate the state income tax (big boost for economic competitiveness). In the interim, we might offer targeted tax relief for new businesses (like no income tax for first year of a new venture up to certain revenue, to encourage people to take the leap). We’ll continue to use the successful Enterprise Zone and Jump-Start programs in economically distressed areas, which give tax breaks for businesses expanding there – maybe even broaden them. However, we’ll be careful not to slip into crony capitalism; broad-based low taxes are better than specific corporate handouts.
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6. Infrastructure and Free Markets: A good free market thrives on good infrastructure (roads, broadband, utilities). We’ll invest in infrastructure (roads and bridges using existing transportation funds more efficiently, and possibly public-private partnerships for major projects). Improving infrastructure lowers business costs (transport, shipping, commuting times for employees) – effectively a boost to the market. Also, ensure our energy grid is robust and we have ample, affordable energy (so factories or data centers want to locate here). That ties with energy policy – an overzealous forced transition to unreliable energy can hamper enterprise with high costs or blackouts; we’ll pursue balanced energy policy prioritizing reliability and affordability (see Clean Affordable Energy).
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7. Education and Labor Market: Free enterprise flourishes with skilled labor. Our education reforms (school choice, vocational training emphasis, etc.) feed into creating a workforce ready for the jobs free markets create. We support apprenticeships and industry partnerships with community colleges. The freer the labor market (with labor mobility and skill development), the more dynamic the economy. We will also maintain Colorado as a right-to-work friendly state (currently union membership is not mandatory, as we prevented Amendment 47 in 2008 but also didn't pass a union-shop law – effectively we are not right-to-work state due to union contracts can require fees, but public sector now is covered by Janus ruling which ended compulsory fees). We’d support a right-to-work law to ensure no worker is forced to join a union as condition of employment (that fosters individual liberty in labor choices and often helps job growth).
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c. Measuring Success: We’ll gauge by a few metrics: improving our state’s ranking in the Fraser Institute’s Economic Freedom index, seeing an increase in new business formations (Colorado already is decent, but can be better), rising labor force participation (people drawn back into workforce by opportunity), and hearing from businesses that Colorado is easy to do business in (we’ll conduct surveys). Also, anecdotally, we’ll know success when other states’ entrepreneurs say, “I moved to Colorado because it’s the best place to grow my business.”