Denver, CO — Following news that Colorado Governor Jared Polis has vetoed HB25-1004, a bill that would rein in the use of algorithmic rent-setting software in rental housing markets, the American Economic Liberties Project, Community Economic Defense Project, and United for a New Economy released the following statements.

“Governor Polis had a simple choice: stand with working Coloradans or side with corporate landlords using secretive algorithms to allegedly price-fix rents. With this veto, he made his priorities clear,” said Pat Garofalo, Director of State and Local Policy at the American Economic Liberties Project. “The governor talks a big game about affordability and abundance, but when given the chance to take real action — at no cost to taxpayers — he protected profiteers and let families keep paying a 13th month of rent. It’s a betrayal of the values he claims to champion, and Colorado renters won’t soon forget it.”

“At a time when costs keep rising for working people and Republicans in Washington are attacking the social safety net, Governor Polis vetoed the most meaningful legislation we had to lower costs for renters,” said Sam Gilman co-founder and President at the Community Economic Defense Project. “This veto sends the devastating message that corporate landlords can keep using secret price-fixing algorithms to take extra rent from people who have the least.”

“As the Executive Director of a multiracial grassroots organization, I see firsthand the impact of policy decisions on everyday people. Technologies like these rent-setting algorithms are not designed with the needs of working families in mind, they are intended only to raise costs and profits for greedy corporations,” said Carmen Medrano, Executive Director of United for a New Economy. “When landlords agree to collectively push prices up, hard-working renters pay the price, literally.”

The use of third-party platforms to set rents across the country has allegedly led to double-digit rent increases in some markets – boosting landlord profits while driving up housing costs, and exacerbating the housing crisis and financial insecurity for average Americans. The bill would have made Colorado the first state in the nation to prohibit the use of algorithmic pricing tools to set rents — a practice alleged to drive double-digit increases, reduce market competition, and push families to the brink. It had unanimous support from legislative Democrats, endorsements from major housing advocates, and strong public backing. The veto ensures that landlords can continue using rent-setting software to quietly collude and hike prices, deepening the state’s housing crisis and putting thousands of renters at risk.

Learn more about the campaign to End Rental Price-Fixing here.

Learn more about Economic Liberties here.

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The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.