Bill to Increase Cost of Living Adjustment for CO Works Advances

SB 20-029 passes the Senate Finance Committee unanimously

Denver, CO – Today the Senate Finance committee advanced legislation to increase the cost of living adjustment for Colorado Works program participants. Colorado families of all backgrounds work hard to provide a better life for their children. But  poverty rates among children in Colorado vary by race and ethnicity, as a result of policies and practices that have created and maintained inequitable opportunities in areas like housing and employment. SB-029 helps bridge those gaps.

"When we as a community remove barriers to financial security for families experiencing the most obstacles, we ensure kids start off on a strong path," said Sen. Rhonda Fields (D-Aurora). 

"Studies show that increases in family income – including through direct financial assistance programs – can lead to improved outcomes for kids living in poverty and even increase a child’s future earnings," said Sen. Dominick Moreno (D-Denver).

In 2018 the Colorado Works program saw its first cost-of-living increase in a decade. SB-29 would increase the amount of Basic Cash Assistance payments to make up for the lack of adjustment for inflation since the program was created in 1996. It would implement an annual cost-of-living adjustment so that the Basic Cash Assistance value keeps up with actual living expenses.