Colorado State Treasurer Dave Young Warns Trump's Immigration Enforcement Could Harm Economy

Treasurer Young Joins State Fiscal Officers Calling for Immigration Enforcement that Protects Communities and Avoids Widespread Harm

Feb. 5, 2026 (DENVER) -Colorado State Treasurer Dave Young joined fifteen other state fiscal officers in a joint letter to President Donald Trump expressing alarm over immigration enforcement operations that are causing severe economic disruption across their states. The coalition warns that the administration's aggressive enforcement activities threaten to destabilize state economies, disrupt daily commerce, and damage state fiscal health.

"As state fiscal officers, our job is to protect the financial health of our states and the services our residents rely on," said Colorado State Treasurer Dave Young. "When federal immigration enforcement actions disrupt workplaces, empty business districts, and slow economic activity, they directly weaken state revenues and put essential public services at risk. We are urging the administration to pursue enforcement policies that protect public safety without destabilizing state and local economies."

The letter, signed by treasurers, auditors, and comptrollers from states representing hundreds of billions in economic output, details how enforcement sweeps are creating fear in business districts and threatening the tax revenues states depend on to fund essential services.

"The economy fundamentally depends on people producing goods, providing services, and participating in commerce as workers, consumers, and business owners," the officers write. "For an economy to function, people must feel safe to go to work, operate businesses, travel to commercial districts, and engage in everyday economic activity. When fear disrupts these basic conditions, production slows, consumption declines, and the economic system that supports public revenues begins to break down."

Businesses across multiple sectors - from agriculture and construction to hospitality and manufacturing - report workforce disruptions, operational shutdowns, and declining revenues that directly threaten state tax collections at a time when many states already face fiscal pressures.

Colorado's economy would be directly impacted by widespread enforcement operations. Among the state's documented and undocumented immigrants, an estimated 10,000 serve as cooks and 52,000 work in construction, making up 23% and 20% of the sector workforce, respectively. Communities would also lose out on tax revenue; in 2022, undocumented individuals paid an estimated $436.5 million in Colorado state and local taxes, according to the Colorado Fiscal Institute and Immigration Research Initiative.

As fiscal stewards, the officers emphasize their unique responsibility: "We manage billions in public funds, oversee state investments, and ensure our governments can meet their obligations to citizens. We cannot stand by while federal enforcement policies create economic chaos that undermines our ability to fulfill those responsibilities."

The officers urge President Trump to immediately scale back enforcement activities that are disrupting businesses and workers, implement enforcement policies that minimize economic disruption, and consult with state fiscal officers before launching operations that could significantly impact state economies and revenues.

Read the full letter.

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About the Colorado Department of the Treasury

The Colorado Department of the Treasury is the constitutional guardian of the public's funds. It is the Treasury's duty to manage and account for the taxpayers' dollars from the time they are received until the time they are disbursed. The Treasury's staff is committed to safeguarding and managing the people's monies with the same diligence and care as they do their own. For more information, visit colorado.gov/treasury.