We fund and campaign hard on issues that matter to the CRE industry. Our leadership is committed to digging into the ballot items, even if you don’t want to.
While ballots are still being counted, results may change, and there will be much analysis to come, as of November 10, 2022, below are some key takeaways for CRE:
FEDERAL – Democrats and Republicans are poised to split power at the federal level. The likelihood of any significant legislation or policy change, whether positive or negative, is low for the next two years.
STATE – A Democratic stronghold at the state level could have myriad impacts for the industry, from environmental and climate measures, to rent control, and changes in statewide land use policy.
LOCAL – Property owners in Denver will now be paying a fee to implement a city-wide sidewalk program; businesses and property managers in Denver will be mandated to provide recycling and compost services; retail marijuana will continue to be prohibited in Colorado Springs; five mountain communities increased taxes on short-term property rentals.
2022 Midterm Election Results
Some key takeaways nationally:
The final outcome for the House and Senate will not be known for weeks, perhaps months, due to runoffs and recounts.
There is no modern precedent for the party of an unpopular incumbent President doing as well as the Democrats did last night; the
anticipated “red wave” by which Republicans would gain control of the Senate and win significant control of the House of Representatives did not come to pass. For historical context, below are the outcomes of previous first-term midterm elections:
Clinton: 54 House seats lost
Bush Jr: 8 House seats gained
Obama: 68 House seats lost
Trump: 41 House seats lost
Biden: Between 1-9 House seats lost
Young people – Gen Z and Millennials – voted in high numbers, predominantly for Democrats.
National Races
SENATE: Control of the Senate will be likely decided by a runoff in Georgia between incumbent Senator Raphael Warnock (D) and challenger Herschel Walker (R).
HOUSE: Republicans are poised to gain a 1 to 5 seat majority in the House of Representatives.
GOVERNORS: Republicans won the Governor’s race in 16 states, but did not flip any states. Democrats are poised to win in 18 – including flipping both Maryland and Massachusetts Governorships from Republican to Democrat.
STATE LEGISLATURES: Four Republican-held chambers flipped to blue last night: The Michigan House, Michigan Senate, the Minnesota House and the Pennsylvania House. And yet, as they have since 2010, Republicans continue their robust dominance of the 50-state landscape. Going into the election, Republicans controlled 61 legislative chambers to the Democrats’ 37. (Nebraska’s unicameral and nonpartisan legislature is not part of that count, hence the total of 98 chambers. Unofficially, Republicans control Nebraska’s legislature). With the four flips, the count is 57 Republicans to 41 Democrats. It’s a commanding lead, but more change may be coming. Both chambers in Arizona and New Hampshire, all held by Republicans, have not yet been called. The same goes for both chambers in Nevada.
State Races
GOVERNOR: Incumbent Governor Jared Polis (D) soundly beat challenger Heidi Ganahl (R) with 57% of the vote.
SECRETARY OF STATE: Incumbent Jena Griswold (D) over challenger Pam Anderson (R)
ATTORNEY GENERAL: Incumbent Phil Weiser (D) over challenger John Kellner (R)
TREASURER: Incumbent Dave Young (D) over challenger Lang Sias (R)
SENATE: Incumbent Senator Michael Bennet (D) topped challenger Joe O’Dea with 54.3% of the vote.
CONGRESSIONAL DISTRICTS: Incumbent Representatives Diana DeGette (D), Joe Neguse (D), Ken Buck (R), Doug Lamborn (R), Jason Crow (D) all retained their seats by strong margins. Incumbent Lauren Boebert (R) is currently neck-in-neck with challenger Adam Frisch (D), in a congressional district favored +9 for Republicans. Democrat Yadira Caraveo, a pediatrician and state representative, became the first Latina elected to represent Colorado in Congress, defeating Republican Barb Kirkmeyer, longtime elected official and current state senator in Colorado’s newly-created 8th Congressional District.
STATE LEGISLATURE: The Colorado Senate was where Democrats were at the biggest risk of losing power. They needed to block Republicans from winning in six of seven competitive districts and Republican donors and lobbying groups had poured millions of dollars into those races in hopes of securing control of the Senate. Not only do Colorado Democrats looks poised to maintain Senate control, they may gain seats as well. Likely the biggest state Senate disappointment for Republicans is unfolding in Senate District 15 in Larimer County and western Boulder County, where incumbent State Sen. Rob Woodward (R) is trailing Democrat Janice Marchman (D).
Democrats also appear to have fared well in the House, with the biggest disappointments for Republicans coming in Districts 12, 25, and 57.
In House District 12, incumbent Rep. Tracey Bernett (D), of Boulder County, beat her Republican opponent despite being criminally charged last week on suspicion of lying about her residence to run in District 12, which leans heavily Democratic. In District 25, incumbent Rep. Colin Larson (R), of Ken Caryl, has lost to challenger Sen. Tammy Story (D), of Conifer, by 4 percentage points. Larson was expected to be a top contender for the House Republican leader position that opened up when House Minority Leader Hugh McKean (R-Loveland) died suddenly on Oct. 30. In District 57, incumbent Rep. Perry Will (R), of Garfield County, has lost to challenger Elizabeth Velasco (D) by 7 percentage points.
Statewide Ballot Measures
Amendment D: New 23rd Judicial District Judges
Recommendation: SUPPORT
Result: PASS
Amendment E: Extend Homestead Exemption to Gold Star Spouses
Recommendation: SUPPORT
Result: PASS
Amendment F: Changes to Charitable Gaming Operations
Recommendation: SUPPORT
Result: PASS
Proposition FF: Healthy School Meals for All
Recommendation: NEUTRAL
Result: PASS
Proposition GG: Add Tax Information Table to Petitions and Ballots
Recommendation: NEUTRAL
Result: PASS
Proposition 121: State Income Tax Rate Reduction
Recommendation: NEUTRAL
Result: PASS
Proposition 122: Access to Natural Psychedelic Substances
Recommendation: OPPOSE
Result: UNDECIDED – LIKELY TO PASS
Proposition 123: Dedicate Revenue for Affordable Housing Programs
Recommendation: NEUTRAL
Result: UNDECIDED – CLOSE
Proposition 124: Increase Allowable Liquor Store Locations
Recommendation: NEUTRAL
Result: FAIL
Proposition 125: Allow Grocery and Convenience Stores to Sell Wine
Recommendation: NEUTRAL
Result: UNDECIDED – CLOSE
Proposition 126: Third-Party Delivery of Alcohol Beverages
Recommendation: SUPPORT
Result: FAIL
Denver Ballot Measures
Initiated Ordinance 305: Eviction Defense Fund
Recommendation: OPPOSE
Result: FAIL
Initiated Ordinance 306: Waste No More
Recommendation: OPPOSE
Result: PASS
Initiated Ordinance 307: Funding for Sidewalks
Recommendation: NEUTRAL
Result: PASS
Referred Question 2I: Tax for Library Funding
Recommendation: NEUTRAL
Result: PASS
Referred Question 2J: Retain Climate Funding
Recommendation: NEUTRAL
Result: PASS
Referred Question 2K: Retain Homelessness Funding
Recommendation: NEUTRAL
Result: PASS
Referred
Question 2L: Ballot Reform
Recommendation: SUPPORT
Result: PASS
Other Local Ballot Issues
Tax Increase on Short Term Rentals in Aspen, Carbondale, Dillon, Grand Junction and Steamboat Springs
Result: PASS
Ranked Choice Voting in Fort Collins
Result: PASS
Recreational Marijuana Sales in Colorado Springs
Result: FAIL