Category Archives: TABOR news story

Jan 17

House Republican Whip Rod Montoya to introduce New Mexico Taxpayer Bill of Rights

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By NEW MEXICO HOUSE GOP • JAN 15, 2020

Commentary:  Today, Rep. Rod Montoya (R-Farmington) announced he will introduce legislation for the upcoming 2020 Legislative Session establishing a New Mexico Taxpayer Bill of Rights (TABOR). The constitutional amendment, if enacted, will restrict annual spending by state lawmakers and require any future tax increase to be approved by a three-fifths majority in both chambers. Additionally, the amendment would provide taxpayers with annual rebates after spending limits are met. If approved, the constitutional amendment would be placed on the ballot for voter ratification in the 2020 general election.

Since Governor Lujan Grisham was elected, she has supported increasing state spending by $3.7 billion and signed into law one of the largest tax increases in the state’s history.

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Jan 17

House Republican introduces ‘Taxpayer Bill of Rights’

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State Rep. Rod Montoya, R-Farmington, announced a plan Wednesday to introduce legislation that would enact a constitutional amendment making it substantially more difficult to raise taxes in New Mexico.

The House minority whip said he plans to introduce the “Taxpayer Bill of Rights” out of concern the Democrat-controlled Legislature is spending far too much money after an influx from Permian Basin oil and gas revenue.

Montoya’s plan would create a constitutional amendment that would require a three-fifths majority in both the state House and Senate to raise taxes. It also would offer taxpayers annual rebates when there’s a budget surplus beyond state spending levels.

In 2019, state coffers were padded with a nearly $900 million surplus from oil and gas extraction revenue. If Montoya’s proposal had been in place, every New Mexico resident would have received a $525 rebate for 2019 and 2020, he said.

Montoya’s House GOP-backed proposal is unlikely to proceed, but if approved by the Legislature, the proposed amendment would go on the ballot for voters to consider in the 2020 general election.

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Jan 16

House Republican Whip Rod Montoya to introduce New Mexico Taxpayer Bill of Rights

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Commentary:  Today, Rep. Rod Montoya (R-Farmington) announced he will introduce legislation for the upcoming 2020 Legislative Session establishing a New Mexico Taxpayer Bill of Rights (TABOR). The constitutional amendment, if enacted, will restrict annual spending by state lawmakers and require any future tax increase to be approved by a three-fifths majority in both chambers. Additionally, the amendment would provide taxpayers with annual rebates after spending limits are met. If approved, the constitutional amendment would be placed on the ballot for voter ratification in the 2020 general election.

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Jan 16

Colorado progressives have a new target in their pursuit of a tax overhaul: the rich. Here’s why:

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A host of proposed ballot measures for 2020 and proposals at the state Capitol are putting Colorado’s uneven tax system in the spotlight

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 of your income.

But despite growing public frustration over income inequality and the state’s rising cost of living, the tax disparities apparent in Colorado’s law have drawn little political attention.

That is, until now. After years of defeats at the ballot box, progressive advocates believe they’ve landed on a tax plan that can resonate with Colorado voters: making the rich pick up more of the bill.

The Colorado Fiscal Institute in December introduced 35 possible ballot proposals that would advance the idea and ask voters to re-establish a graduated income tax in the state for the first time in more than 30 years. Structured like the federal income tax, graduated or progressive state tax brackets would levy higher tax rates based on how much money residents make.

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Jan 13

Coming This Spring: TABOR-Triggered Income Tax Relief in Colorado

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Tax Foundation@taxfoundation
 
A pleasant surprise awaits Coloradans when they file their taxes this spring: a reduced tax rate of 4.5 percent will apply to income earned in 2019

January 6, 2020

Katherine Loughead

A pleasant surprise awaits Coloradans when they file their taxes this spring: a reduced tax rate of 4.5 percent (rather than the usual flat rate of 4.63 percent) will apply to income earned in 2019. This temporary income tax rate reduction, which will be enjoyed by individuals, pass-through businesses, and corporations alike, was triggered because state tax collections exceeded the Taxpayer’s Bill of Rights (TABOR) revenue limit by $428 million in fiscal year (FY) 2019.

TABOR, enshrined in the state constitution since it was approved by voters in 1992 (but amended by a an increased “Referendum C” cap in 2005), places an annual limit on state revenue growth, capping it at the prior year level after adjusting for inflation, population growth, and any voter-approved revenue changes. Any collections above that limit, by default, are returned to taxpayers unless a majority of voters authorize the state to retain the surplus.

The Colorado Constitution does not prescribe specific refund mechanisms but instead authorizes the General Assembly to make those determinations. Under current law, TABOR surpluses can be returned to taxpayers using up to three refund mechanisms: a property tax exemption reimbursement to local governments, a “sales tax refund,” and a temporary reduction in the state’s income tax rate. The income tax rate reduction is the most difficult to trigger since it requires the largest amount of revenue.

Jan 10

The Arrogant Hyposcrisy of COSenDems and YOUR Taxpayer Dollars

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We can’t believe Colorado elected liberals. Keep in mind they’re the ones wasting taxpayer money (that’s your money, not theirs) & they won’t rebuild your roads and bridges

 

Excuse me but you sure sound like hypocrites
So are you following the will of the voters or not?

Prop 112 fails as voters say no to larger setbacks for oil and gas

DENVER, COLORADO – NOVEMBER 6: Suzanne Spiegel, a proponent of Proposition 112, center, and Tez Diaz, right, hug as they gather together with other organizers of Proposition 112 to concede defeat during the watch party for supporters for Proposition 112 at Big Trouble Restaurant inside Zeppelin Station on November 6, 2018 in Denver, Colorado. Colorado voters defeated their measure that would have created larger setbacks for oil and gas. (Photo by Helen H. Richardson/The Denver Post)

http://www.denverpost.com/…/colorado-proposition-112…/

And don’t forget what Colorado voters also said…

Colorado Prop CC: Effort to end TABOR refunds fails

DENVER, CO – NOVEMBER 05: Proposition CC opponents from left to right, Maggie Lit, Independence Institute and Josh Williams, Independence Institute, Ansley Bradwell, Libre Initiative and Lorenz Isidro, Americans for Prosperity celebrate the their victory at during an opposition watch party at the Great Northern restaurant, election night November 05, 2019. Proposition CC would have allowed the state to permanently keep all the money it collects above the state revenue limit and spend it on public schools, higher, education, roads, bridges, and transit. The opposition wanted the state to continue issuing refunds under the Taxpayer’s Bill of Rights (TABOR) when the state collects revenue in excess of the state’s annual revenue limit. (Photo by Andy Cross/The Denver Post)

http://www.denverpost.com/…/proposition-cc-tabor…/

This proves our point that your party doesn’t care about spending other people’s money and views it as theirs.
Your priorities and morals are completely WRONG!
SMH at the utter hypocrisy of #CoSenDem
#TABOR
#ItsOurMoneyNotYours
#LiveWithinYourBudget

Another arrogant attempt to waste more taxpayer money by @COSenDems