Colorado Capitol Report

The Colorado Chamber Pushes Back on U.S. Department of Labor Rule Changing Investment Advice Standards

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State Policy News

CACI Pushes Back on U.S. Department of Labor Rule Changing Investment Advice Standards

Based on concerns that a recent U.S. Department of Labor rule could hurt small investors and small companies, CACI has joined a coalition in opposition to this rule and has signed onto a letter to the Secretary of Labor, Thomas Perez, sharing its concerns.

The DOL rule, which is designed to reduce conflicts of interest for brokers, has raised concerns by CACI members that it would create more restrictions and red tape for employers that offer retirement plans for its workers.

The proposed rule would expand the types of interactions with individuals who are saving for retirement that would be treated as investment advice.  The proposed language could result in small business owners being limited in their ability to receive assistance for establishing and maintaining a retirement plan for employees.  Additionally, the proposed rule could limit an individual’s ability to seek access to affordable financial planning services and resources.

The U.S. Chamber of Commerce recently released a report asserting that the DOL rule would “impose significant new compliance costs and legal liabilities on advisers” to small businesses offering Simple IRAs to employees in lieu of traditional 401(k) plans.

Supporters of the rule state that DOL’s intent is to protect investors from brokers who choose high-fee investment products that increase the brokers’ income instead of the investors’ retirement fund.  However, opponents state that that same goal can be achieved without adopting a new rule by enforcing a full disclosure of fees, compensation and conflicts of interest by brokers.

CACI and other business organizations, through the letter to the Secretary of Labor, has asked that DOL work with business and financial interests on a rule that will protect its workers that are saving for retirement and still allow for long-established services and resources to be provided to those individuals.

Please contact Loren Furman, CACI Senior Vice President, State and Federal Relations, at 303.888.9387 with any questions regarding this issue.

Colorado Emergency Planning Commission (CEPC) Delays Action on Tier II Data Mapping Due to Concerns Expressed by CACI

CACI submitted the following comment letter to the Colorado Emergency Planning Commission (CEPC), regarding its proposed action to add mapping of Tier II data – facility name and location to the “My Hazards” map on the website. CACI Government Affairs Representative, Dan O’Connell, also voiced the strong concerns held by CACI members regarding the proposed action during the public comment phase of the CEPC’s meeting.

For more information on the CEPC’s proposed action see this fact sheet, or visit the CEPC website.

Due to the concerns of CACI members and other impacted stakeholders, the CEPC has delayed taking action on their Tier II mapping proposal until at least November, the next scheduled meeting of the CEPC.  Before the November CEPC meeting, CEPC will:

  • Work to better communicate with impacted stakeholders,
  • Undertake a feasibility determination to better understand the costs and technical challenges associated with developing, launching, and maintaining an accurate Tier II mapping tool, and
  • Schedule a stakeholder meeting in advance of the November CEPC meeting to demonstrate the proposed mapping tool to stakeholders, in order to give the CEPC time to take comment and feedback from stakeholders regarding the mapping tool before the November meeting.

If you have additional questions or concerns, please notify Dan O’Connell at [email protected] or (303) 866-9622 if you have proposed changes to these draft comments.

Forum On Global Leadership: What’s At Stake For Colorado?

CACI is proud to partner with the U.S. Global Leadership Coalition and invite our members to attend luncheon discussion with Senator Cory Gardner (R-CO) and General James Mattis, former commander of U.S. Central Command, on the positive impact of U.S. international affairs programs in Colorado.

  • When: July 31, 2015; Expo & Registration open at 11:00am; Luncheon 12:00pm-1:30pm (There is no cost to attend)
  • Where: The Ritz-Carlton, 1881 Curtis St, Denver, CO 80202
  • Register here for the luncheon

News Media Coverage

Below is recent news-media coverage of state and federal political, policy and governmental issues of interest to CACI:

Carroll launches challenge to Coffman in congressional 6th CD,” by Ernest Luning, The Colorado Statesman, July 10th,

Justice Gregory Hobbs reflects on water, justice,” by Marianne Goodland, The Colorado Statesman, July 9th.

Morgan Carroll stepping down as Colorado senate minority leader,” by Ed Sealover, The Denver Business Journal, July 9th.

Democrat Lucia Guzman to become Senate minority leader,” by Lynn Bartels, The Denver Post, July 9th.

Legislative committee looks for answers to I-70 winter-driving conditions,” by Joey Bunch, The Denver Post, July 8th.

Don’t celebrate redistricting panels,” guest commentary by Scott Gessler, The Denver Post, July 8th.

Democrat Morgan Carroll’s record offers some surprises,” by Lynn Bartels, The Denver Post, July 7th.

What oil and gas downturn?  2015 production could be highest in decades,” by Cathy Proctor, The Denver Business Journal, July 7th.

Morgan Carroll announces challenge to Mike Coffman,” by Mark Matthews, The Denver Post, July 7th.

Republican Greg Lopez, former SBA director,  to run for U.S. Senate,” Lynn Bartels, The Denver Post, July 6th.

Supreme Court gives Colorado a green light to fix redistricting,” editorial, The Denver Post, July 4th.

Federal Policy News

CACI Sends Letter of Support for Bipartisan Ozone Bill to Colorado’s U.S. Senators

The Clean Air, Strong Economies Act (CASE), S. 751, would prohibit the EPA from lowering the national ambient air quality standards (NAAQS) for ozone until at least 85% of counties currently in non-attainment have reached existing attainment levels.

This bill, brought by Senators John Thune (R-SD) and Joe Manchin (D-WV), has bipartisan support with 27 Senate co-sponsors.  The Senate Environment and Public Works Committee held a hearing on June 3, 2015.

CACI is encouraging Senators Michael Bennet (D) and Cory Gardner (R) to support this commonsense legislation for the benefit of Colorado’s businesses and economy:

“We support S. 751, the Clean Air, Strong Economies Act, because it is a good faith effort to address air quality standards, while allowing businesses to reach compliance without experiencing such staggering costs.  By ensuring at least 85% of our nation’s non-attainment counties have reached attainment before creating new standards, this legislation would allow for a thoughtful solution as opposed to creating economic disaster for 1,300 counties and 40 states.”

The CACI letters go on to say:

“Coloradans work hard to be good corporate citizens and responsible stewards of our environment.  Over many years, our state has established itself as a place where economic prosperity and compliance with environmental regulations can co-exist.  The Senate’s passage of S.751 will help Colorado continue to balance both of these priorities.