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Illinoisans need a taxpayer bill of rights so that politicians must ask permission from voters if they want to raise taxes.
Colorado adopted a Taxpayer Bill of Rights, or TABOR, as an amendment to the Colorado Constitution. The Colorado TABOR requires any government to seek voter approval before imposing a new tax or raising existing tax rates. The TABOR also contains a formula that determines how much in taxes a government can collect in a year, based on increases in population and inflation. If more revenues are collected than the formula allows, then the governing entity is required to reimburse the excess money back to the taxpayers.
A provision in Colorado’s TABOR allows excess revenues to be kept by the government if the taxpayers give voter approval through a ballot initiative. Anytime there is a proposal to raise taxes or keep excess tax revenues, the ballot must provide the following: information on the governing entity’s current and previous four years of spending, the proposed tax increase in percentages and estimated dollar amounts, and summaries of support for and opposition to the proposed tax increase.