2021 Colorado legislature’s new taxes bypass TABOR by Kevin Lundberg
Taxes and TABOR
As a part of my deeper dive into the 2021 bills that are now law, this week’s bills affecting taxes and TABOR are examined. In general, the bills which passed this year increased taxes and established new enterprises without calling for any constitutionally required votes from the people of Colorado.
This is far too predictable for the majority party. They use every trick in their playbook to wiggle around the clear intent of TABOR to require the people to vote on these significant new burdens on all citizens of Colorado.
However, there was one small bright spot I found. SB-227 created the State Emergency Reserve Cash Fund, finally putting actual cash into the TABOR-required emergency fund. Since TABOR was created, nearly thirty years ago, the TABOR emergency reserve has been essentially ignored. Instead of actually setting aside cash as a reserve the legislature creatively designated assets, such as buildings as the “reserve” for emergencies. Finally, in this year, when the state coffers are full of federal debt dollars, they found some money to actually make a viable fund.
But the rest of the laws headed in the opposite direction Continue reading