A measure on the 2020 ballot in Colorado proposes a permanent cut to the state’s income tax rate that would give the average taxpayer a $37 break annually. The limited-government conservatives and Republican lawmakers backing Proposition 116 say the tax relief comes at a crucial moment amid the economic downturn caused by the coronavirus. The […]
income tax
Posted inBusiness, Education, Election 2020, Health, Outdoors, Politics and Government
Colorado 2020 election: A quick guide to the ballot questions on abortion, wolves, taxes, sick leave and more
Colorado voters will decide 11 statewide policy questions on the November ballot — a list of far-reaching measures that will help set the direction for the state’s future. The 2020 ballot asks voters whether Colorado should put limits on abortion and create a state program designed to provide paid time off to workers for medical […]
Posted inBusiness, Politics and Government
Gov. Jared Polis praises Republican-backed ballot question to lower Colorado income taxes
A Republican-authored measure to cut Colorado’s state income taxes amid the economic crisis may have an unlikely ally when it appears on the November ballot: Democratic Gov. Jared Polis. In a brief interview with The Colorado Sun, Polis praised the intent of Initiative 306, a ballot measure that would permanently reduce the state income tax […]
Posted inOpinion, Opinion Columns
Opinion: We can heal the coronavirus’ economic wounds with Initiative 271
The COVID-19 global pandemic has spread across the country, and Colorado has not been spared. Over 38,000 coronavirus cases have been reported in our state, with over 1,700 deaths, and no end in sight. We aren’t just facing an unprecedented health crisis – for many, especially families with low incomes, the economic impact has been just […]
Posted inEducation, Politics and Government
TABOR repeal is off the table for 2020. Now it’s Initiative 271, a $2 billion tax hike targeting the wealthy
A coalition pushing to overhaul Colorado’s tax system will not pursue a complete repeal of the Taxpayer’s Bill of Rights this year, opting instead for a ballot measure in November that would generate billions in new money with higher taxes on the wealthy. The new initiative — which is expected to receive final legal approval […]
Posted inNews, Politics and Government
Colorado progressives have a new target in their pursuit of a tax overhaul: the rich. Here’s why.
In the Colorado tax code, it pays to be rich and it’s expensive to be poor. For decades now, that’s been the stark takeaway buried inside the 286-page report on Colorado’s tax system the state Department of Revenue releases every two years: The less you make, the more you spend on taxes, as a percentage […]
Posted inOpinion, Opinion Columns, Politics and Government
Jared Polis: A New Year’s tax cut surprise for every Coloradan
As we end 2019 and look forward to 2020, I’m excited to work hard to help Colorado tackle tough challenges in the next decade. The common thread throughout my first year in office has been working hard to save Coloradans money — on education, health care, utility bills, housing and more. Families are already saving […]
Posted inBusiness, News, Politics and Government
For the first time, TABOR triggers an income tax rate cut. Here’s how much you can save on 2019 taxes.
Colorado is poised to return $428.3 million to taxpayers this year, but don’t look for a refund check in the mail. The Taxpayer’s Bill of Rights mandates the rebate because the state exceeded the revenue limits in the 2018-19 fiscal year. The TABOR excess is so great it will force the state for the first […]
Posted inBusiness, Education, Politics and Government, Transportation
The next fiscal fight in Colorado starts now: A bid to repeal TABOR and one to raise taxes on top earners
Colorado voters rejected a bid to remove the spending caps in the Taxpayer’s Bill of Rights — but the fiscal fight is only expected to get more intense in the next year. One interest group is considering a repeal of the Taxpayer’s Bill of Rights and another is testing ideas for a graduated tax system […]
Posted inBusiness, Politics and Government
Jared Polis won’t get one top priority this session: his income tax cut
Colorado Gov. Jared Polis made a state income tax cut one of his top priorities in his first year. He won’t get it. The opposition from Democratic lawmakers and his allies and the complicated nature of the policy shift led to the proposal’s demise before it could be introduced in the current legislative session. The […]