Weekly News from COBRT
June 27, 2017
Colorado Business Roundtable would like to thank Bill Miller of the D.C. Business Roundtable (BRT) for presenting at the BRT Briefing and Reception event. We would also like to thank all of those that attended this event. We hope you enjoyed yourself and learned a little bit about the issues going on at D.C. 

In attendance were some great BRT and COBRT partner companies: IBM, Anadarko, Walgreens, Ball Corp, Aetna, Deloitte, BNSF Railway, and others.

The Reception was also attended by Sec. of State Wayne Williams, Canadian Consul General Stephane Lessard, Rep. Paul Lundeen, Rep Lawrence, representatives from Mexican Consulate, Congressman Coffman, Jim Ogsbury with Western Governors and more.

As key takeaway points, we saw the importance of timely, relevant business updates on tax reform, regulatory reform, health care bill, infrastructure improvements, and ATC privatization. In addition, with change in leadership at the BRT, it was great chance to hear firsthand about the new leadership and focus for BRT moving forward.
The Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have completed an estimate of the direct spending and revenue effects of the Better Care Reconciliation Act of 2017, a Senate amendment in the nature of a substitute to H.R. 1628. CBO and JCT estimate that enacting this legislation would reduce the cumulative federal deficit over the 2017-2026 period by $321 billion. That amount is $202 billion more than the estimated net savings for the version of H.R. 1628 that was passed by the House of Representatives.

The Senate bill would increase the number of people who are uninsured by 22 million in 2026 relative to the number under current law, slightly fewer than the increase in the number of uninsured estimated for the House-passed legislation. By 2026, an estimated 49 million people would be uninsured, compared with 28 million who would lack insurance that year under current law.

Following the overview, this document provides details about the major provisions of this legislation, the estimated costs to the federal government, the basis for the estimate, and other related information, including a comparison with CBO's estimate for the House-passed act.

Effects on the Federal Budget
CBO and JCT estimate that, over the 2017-2026 period, enacting this legislation would reduce direct spending by $1,022 billion and reduce revenues by $701 billion, for a net reduction of $321 billion in the deficit over that period (see Table 1, at the end of this document):
  • The largest savings would come from reductions in outlays for Medicaid-spending on the program would decline in 2026 by 26 percent in comparison with what CBO projects under current law-and from changes to the Affordable Care Act's (ACA's) subsidies for nongroup health insurance (see Figure 1). Those savings would be partially offset by the effects of other changes to the ACA's provisions dealing with insurance coverage: additional spending designed to reduce premiums and a reduction in revenues from repealing penalties on employers who do not offer insurance and on people who do not purchase insurance.
  • The largest increases in deficits would come from repealing or modifying tax provisions in the ACA that are not directly related to health insurance coverage, including repealing a surtax on net investment income and repealing annual fees imposed on health insurers.

Read the full CBO analysis
Denver Business Journal and Colorado Business Roundtable bring you a unique CEO Panel event, View from the Top. Join us on Friday, July 11th at History Colorado as we explore the unique challenges, opportunities and lessons learned from some of Colorado's top CEO's.

A View from the Top
Save the date: July 11, 2017

7:00- Check-In, Coffee service
7:30-9:00 Panel

Jacque Hinman, CEO of CH2M
John Hayes, CEO of Ball Corp.
Mike Fries, CEO of Liberty Global

The  Governor's Office of State Planning and Budgeting (OSPB)  has released its quarterly economic and revenue forecast. 

General Fund revenue is increasing a modest 3.4 percent in FY 2016-17 and is forecast to increase at a stronger rate of 6.7 percent in FY 2017-18. Although sales taxes and individual income taxes are recovering from the oil and gas downturn and weaker economic growth during 2015 and 2016, General Fund revenue growth overall this fiscal year was weighed down by a few factors. Notably, it appears some taxpayers delayed income from investment gains in anticipation of federal tax changes. Also, the continued decline in corporate income tax revenue impacted General Fund revenue growth. However, these factors will not reduce growth in FY 2017-18, which will allow for the stronger rate of increase.
"Colorado reached two significant milestones this year - the number one economy in the country and the state's lowest unemployment on record," said Governor John Hickenlooper. "Our challenge now is maintaining this success and that requires addressing tight labor and affordable housing conditions." 

To address Colorado's most challenging water issues, three inspiring Colorado organizations are connecting community leaders, entrepreneurs, and industry professionals in new, innovative ways.

From reverse pitch events to Google-inspired entrepreneur "sprints," TAP-IN10.10.10 and  Innovation Incubator (IN²) are developing breakthrough solutions and starting new ventures utilizing Colorado's innovation ecosystem. 

Read more
"On June 21, a group of Colorado leaders will begin training in a remarkable program aimed at inspiring business men and women to serve in government. We, the first class of the Colorado

Governors Fellowship Program, would like to welcome the next class of Fellows.
Twenty-two of us participated in the first year of the Colorado Governors Fellowship Program, each of us industry leaders in the worlds of healthcare, tech, finance, education, energy and beyond."

Read more in the Denver Post
"It's easy to forget how much political energy-and important new thinking-emanates not from the nation's capital but from city hall. We surveyed dozens of national and local political junkies, and came up with 11 leaders who are compelling for the fights they are waging, their personal backstories and how they are transforming their cities, often without Washington...

Being mayor has been Hancock's dream ever since he decided, at age 15, that he wanted to be the first African American to lead Denver, whose population is only about 10 percent black. (Wellington Webb would beat him to that goal in the 1990s.) And Hancock's path was far from clear. He had the kind of childhood that can be an asset only after it has been overcome: an alcoholic father; a brother who died of AIDS; a sister who was murdered by a domestic abuser. Before getting to the mayor's office, Hancock spent a season as the Broncos' then-mascot, "Huddles," two terms as a City Council member, and then defeated the son of a former governor in his first mayor's race in 2011. When he ran again four years later, he was virtually unopposed."

Read the full article in POLITICO
A group of 38 teachers from eight states will benefit from world-class training as a partnership between The Dow Chemical Company, CH2M, and the Smithsonian Science Education Center is renewed for another year. 

Participants in the 2017 Dow-CH2M Smithsonian Teacher Scholar Program will participate in the six-day Smithsonian Science Education Academies for Teachers (SSEATs) in Washington, D.C., then continue on a year-long growth experience tailored to expanding science, technology, engineering, and math (STEM) excellence.

Read the full release in BioSpace
Ahead of the tech meeting, Stephenson told " Squawk Box " the company will increase its capital investments if Trump delivers on tax reform by the end of the year.

"I don't think we're unique. I think you would see this happen across all industries, and with every player in our industry," he said.

Watch the clip on CNBC
Lockheed Martin on Thursday pledged $1 million to build an additive manufacturing lab at Metropolitan State University of Denver, the only one of its kind in Colorado.

The money will be spent over four years to set up the Lockheed Martin Additive Manufacturing Laboratory, where students can use state-of-the-art 3-D printing technology to design and create aerospace components. The grant also establishes an endowed director for the school's Advanced Manufacturing Sciences Institute.

Read the full story in the Denver Post

July 10-14, 2017 

The Colorado Space Business Roundtable (CSBR) is visiting communities around the state to:
  1. Meet with local businesses that are interested in becoming a supplier or subcontractor to the larger aerospace companies such as Boeing, Lockheed Martin, Sierra Nevada, United Launch Alliance, Teledyne Brown Engineering and many others. Opportunities are not limited to businesses that currently work in aerospace.  Almost any product or service could potentially have opportunity.
  2. Meet with local officials, students, educators, and anyone who is interested to learn about the impact aerospace has on our nation, state, and the benefits to every community in Colorado.
  3. Meet with students and educators to discuss educational opportunities such as internships and other programs involving Colorado aerospace companies and organizations.
NSBA Washington Presentation Wrap-Up
On June 19-20, 2017, small-business leaders from across the country came to Washington, D.C. for NSBA's 2017 Small Business Washington Presentation.  During the two-day event, attendees heard from policymakers, administration officials and Congressional staff, and spent time networking and attending meetings on Capitol Hill.

What's The Difference Between The National Debt And The Deficit?
"So, what are we talking about when we talk about deficits? Simply put, a deficit is the difference between what the country is spending and what it's making. The Congressional Budget Office (CBO) projects that for fiscal year 2017 the U.S. will spend $559 billion more than it took in. The debt is the total amount the country has borrowed trying to make up that difference year after year. That number fluctuates a bit, but it's usually around $19 trillion."

Ninety percent of CEOs responding to a Business Roundtable survey say that delaying tax reform will harm the U.S. economy by causing slower economic growth, hiring and capital investment. 

  • Fifty-seven percent of the responding CEOs say delaying tax reform means their company will delay capital spending, the investment that drives jobs and growth. 
  • Fifty-six percent say their companies will delay hiring plans.

"CEOs overwhelmingly believe that tax reform is the most effective way to put more Americans to work in a stronger, growing economy. The Trump Administration's recent release of its tax proposals was a significant step forward as they work with Congress on pro-growth reform legislation. By demonstrating the importance of tax reform to business and the U.S. economy, these survey results confirm that tax reform is a critical priority if we are to grow the economy and create jobs and opportunity."
 - Business Roundtable President and CEO Joshua Bolten

Listen at KDMT 1690 AM Denver's Money Talk from 
4-5 p.m. Monday through Friday or  live stream online. Podcasts are available at  www.cobrt.com/radio and on your favorite podcast app the day after live airing.

Stream or Download These  Recent Episodes

See all at our events page and use this contact form to add yours!
7/10 - 7/14/17
CSBR Western Colorado Road Trip - Colorado Space Business Roundtable

View From the Top CEO Panel - COBRT & Denver Business Journal

The Energy Conference: Cleaner, Better, Further, Safer  COGA

Why Cuba Trade Delegation Global Chamber Denver & Lynx Global Intelligence

Start of Colorado Tech Tour 2017 - Colorado Technology Association

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