Scarcnet News Summaries (Advocacy Institute)
Colorado May Take Tobacco Settlement In Lump-Sum
Date: 26 Aug 1999
Length: pages
Length: pages
Abstract
The Colorado state Legislature's Joint Budget Committee appears reluctant to support state Treasurer Michael Coffman's proposal to take Colorado's tobacco settlement in a single $901 million payment. The alternative is to take an estimated $2.7 billion (including inflation) over the next 25 years. Coffman believes a lump-sum payment would eliminate any risk of the tobacco companies declaring bankruptcy in the years to come.
Source: "Colorado," USA TODAY, August 26, 1999, p. A14.