To generate money for the coronavirus-depleted state budget, Democratic state lawmakers in Colorado want to slash or change nine tax breaks to generate $1.6 billion in revenue over the next four years. House Bill 1420, introduced Monday with just days left in the 2020 lawmaking term, would revoke tax breaks included in the federal stimulus […]
tax policy
Posted inBusiness, News, Politics and Government
A coronavirus shift to online shopping has helped save some retail sales — and tax revenue — in Colorado
When Erika Righter saw foot traffic at Hope Tank vanish in March as coronavirus safety measures went into place, she temporarily closed her Broadway gift store and reopened online. “Thank God for online,” said Righter, who opened the Denver store in 2012. “I launched an online shop, which I wish I had done years ago.” […]
Posted inBusiness, Education, Politics and Government
Colorado lawmakers are looking at how to close a $3 billion budget shortfall. Here’s the roadmap.
The impact of the coronavirus pandemic on the $30 billion-plus state budget begins to take shape this week as lawmakers consider massive spending cuts. How much tax revenue Colorado will lose to the paralyzed economy remains uncertain, but the governor’s budget office is projecting $3 billion in lost revenue for the current fiscal year and […]
Posted inBusiness, News
Against uncertain backdrop, the tax overhaul backed by Colorado’s governor and state lawmakers limps ahead
After years of groundwork, 2020 was supposed to be the time for Colorado tax reform. Democratic Gov. Jared Polis kicked off his second year in office by doubling down on his pledge to eliminate special interest tax breaks to fund broad tax cuts. A legislative study group came into the session with an agenda of […]
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 inOpinion, Opinion Columns, Politics and Government
Opinion: How do we fix Colorado’s unfair tax system? It depends on who pays.
I know you’re tired of hearing about Colorado’s public funding needs, but as they continue to fester, we don’t have the luxury of ignoring them. No amount of arguing fiscal statistics ad nauseam (which we’ve done for years) changes the bottom line: In real dollars, adjusted for population, our state spends little more than it […]
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, Politics and Government
The tax fight continues in Colorado as liberal group files 35 more ideas for the 2020 ballot
If the fight over Colorado tax policy were a sporting event, half the stadium might have emptied out by now. With the November defeat of Proposition CC, the score has become so lopsided in favor of fiscal conservatives, the outcome of any given skirmish over the Taxpayer’s Bill of Rights is starting to feel like […]
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 […]