At the same time, it protects the revenues needed by schools and local governments by tapping into TABOR refunds.
TABOR refunds
Posted inPolitics and Government
Colorado is expected to return $2.7 billion to taxpayers. The legislature hasn’t determined how to refund the money.
If the legislature doesn’t act, the TABOR surplus will be returned through checks tied to taxpayers’ income levels, with higher earners getting bigger refunds. Democrats say that system is inequitable.
Posted inBusiness, Economy, News, Politics and Government
What’s Working: The politics of unemployment debt in Colorado
There are just a few days left of Colorado’s legislative session as lawmakers push through a flurry of bills before the session adjourns on May 11. One of the more relevant proposals to impact employers and workers statewide — and touches on why this weekly column even exists — is Senate Bill 234, which passed […]
Posted inOpinion, Opinion Columns
Opinion: The state has collected more money than it legally can spend. Let’s invest some of it in teachers
If not now, when? If not us, who? Those are the questions that compelled us to action. As public-school graduates, parents and advocates, the two of us agreed earlier this year to be the proponents for a proposed citizens ballot initiative that would set aside certain revenues already collected by the state to be used […]
Posted inNews, Politics and Government
Here’s the income-tax cut and refund payment Coloradans will get because the TABOR cap was exceeded
Colorado taxpayers will get a break on their income taxes and a refund payment because the state’s cap on government growth and spending under the Taxpayer’s Bill of Rights was exceeded last fiscal year. The income tax rate will drop to 4.5% in 2021, down from 4.55%, and individual taxpayers will get an additional sales […]