…Once the COVID-19 crisis subsides, the federal government should wholeheartedly work toward a reduction in both federal spending and the national debt. There are many pro-taxpayer fiscal rules to choose from, including the Taxpayer Bill of Rights (TABOR) in Colorado, or a meaningful balanced budget amendment, like the one Indiana voters overwhelmingly inserted into their state constitution in 2018….
Here’s a good tool to better understand our state budget. It’s much more accessible than what’s been previously available from the state.
If you’re looking for something to read while #socialdistancing, we’ve launched a tool to help you understand the Colorado Budget! Find simple explanations on where revenue comes from, how taxes are spent, TABOR, school financing, and much more!
Denver, CO – New taxes may be on their way to the ballot. Colorado Initiative Title Setting Review Board approved language for 12 new taxes. The next step will be collecting the two hundred thousand or more signature to have these ballot initiatives appear on your November 2020 ballot.
After the sound defeat of Proposition CC in 2019, the tax and spend crowd would go away for a while. The simple answer is no. As long as liberal billionaires fund “think tanks” like the Colorado Fiscal Policy Institute and the Bell Center For Policy, they will always be pushing for tax increases and the repeal of the Taxpayer’s Bill of Rights (TABOR).
From Colorado Politics:
The board also approved 12 initiatives from Carol Hedges and Steve Briggs of Denver that would create a graduated income tax system, raising approximately $2 billion to $2.4 billion. The money would go toward education and addressing “the impacts of a growing population and a changing economy.”
Voters have turned down tax increases and eliminating spending caps every election they have been on the state-wide ballot. The last successful attempt was Referendum C in 2005 after too many Republicans campaigned hard for it. In a related note, those Republicans political careers ended that day.
Guest blog from Dennis Simpson, retired CPA and TABOR activist. Simpson lives in Mesa County.
There are not many local Colorado governments left that have not relaxed TABOR restrictions. One of the remaining few is Mesa County. Recent action by County Commissioners increased the possibility that anti-TABOR folks (including our local newspaper) soon will mount an effort to remove protections that TABOR provides you.
In this case, TABOR limits the ability of a government to retain excess revenue in two distinct ways. It limits the amount of property taxes collected and additionally limits the overall revenue collected in any year.
In 2018, Mesa County’s collection of property taxes was not an issue. However, the County had a banner year in the collection of sales taxes which resulted in excess revenue exceeding $5 million.
The concept of refunding anything other than excesses caused by property taxes has not happened for many years, presenting a new challenge to staff and Commissioners. The Commissioners ignored helpful suggestions for alternatives and dismissed the issue too rapidly. They decided to take the option that required the least amount of thought. They are giving the $5 million to property taxpayers proportionate to how much property tax each paid. Our largest property taxpayers are oil companies and box stores with main offices far away. Over $2 million of the sales tax refund will be removed from the local economy. Those who do not own property will get zero and those who own lower value homes will get a pittance.
A guest column on this issue, “Commissioners’ handling of refunds at odds with TABOR’s long-term survival,” provides additional discussion.