Gov. Polis’ proposed state budget includes investments to promote housing stability and economic security for families
Advancing family economic prosperity in Colorado requires making sure that our kids and families have adequate income and stable, safe places to live. The Children’s Campaign is pleased to see that Gov. Polis’s budget for the 2023-24 fiscal year includes meaningful investments to promote housing stability and economic security for families. These include the following:
- $5 million to prevent youth and family homelessness
- $1.1 million to prevent evictions through more robust funding for the Eviction Legal Defense Fund
- $4 million to support parents in being able to provide child support and work to earn wages more closely aligned with current economic conditions
Why are these investments needed?
- Preventing homelessness: The number of people in families with children in Colorado shelters increased by 16% between 2020 and 2021, among the largest absolute increases across states between those years, according to the U.S. Department of Housing and Urban Development.
- Preventing evictions: Families who rent their housing have been hit particularly hard by the economic fallout from the pandemic. Nationally, renters with children have consistently been more than twice as likely as families who own their housing to report being behind on payments and being very likely to have to leave their home. Even prior to the pandemic, families with children were more likely to face eviction than other groups.
- Income support: Research shows that child support represents about 41% of household income for families who receive it, and that every dollar of child support income has a more significant positive effect on how well a child does in school than any other source of family income.
The funds identified in the governor’s budget are in addition to money dedicated to housing affordability through Proposition 123, which was approved by voters in the 2022 election. We are excited to see these issues prioritized by voters and in the governor’s budget. We look forward to following the state budget process and the implementation of Prop 123 to ensure all Colorado families have a safe place to call home and are economically secure.
Stay tuned to KidsFlash for more in-depth analysis of the governor’s budget and the legislature’s actions – and how they will impact Colorado kids and families. You can find information about the Joint Budget Committee (JBC) and an explanation of Colorado’s annual state budget process here.