DENVER–Governor Polis and the majority Democrats have an ambitious agenda this legislative session. Question is, how will they pay for it all? With the failure of Proposition CC in November, those who were hanging their hats on voters giving up future tax refunds, allowing the state to keep and spend overcollected tax revenue, will need to find new pots of money. Indeed, not only did Coloradans vote to keep the Taxpayer’s Bill of Rights (TABOR) revenue limit in place, that limit has been hit and the state income tax rate is actually ratcheting down for the year.
Republican strategist Roger Hudson and Democrat strategist Miller Hudson recently sat down with Complete Colorado editor-in-Chief Mike Krause on the public affairs TV show Devil’s Advocate (airs Friday nights at 8:30 on Colorado Public Television, channel 12) to talk about where Democrats might turn to bring in new revenues. Both agree that one option is more more fee-funded government-run enterprises, which operate outside the TABOR budget cap. Check out the video below to find out more.
Income tax rates will be decreasing from a flat 4.63% to 4.5%.
The decrease was mandated by the Colorado State Constitution and the Taxpayer Bills of Rights (TABOR) which limits how much government can grow each year.
Passed in 1992, this is the first year TABOR has triggered cuts. As opposed to sending checks to taxpayers, income tax rates will be cut instead.
Now that Proposition CC has gone down in flames, what will progressives do next to sabotage TABOR? Aren’t you sick and tired on politicians trying to weasel their way out of, or ignoring, TABOR?
We need to do something about it, right? Well then, why not you?
Yes, you read that right.
Why not? It’s a great time to get involved. If not you, then who?
We could use your help, talents, and skills defending the gold standard, Colorado’sTaxpayer’s Bill of Rights (TABOR).
We’re looking forward to having you help Colorado.
It’s easy to join.
See below on how you can make a difference.
The 2020 presidential campaign is dominating media coverage, but in just a few days, on Nov. 5, the voters (not a poll) of the battleground state of Colorado will determine the future of the nation’s strongest and most effective tax and expenditure limitation measure, known as the Taxpayer Bill of Rights (TABOR).
Approved by more than 53 percent of voters in 1992, Colorado’s TABOR mandates that state revenue cannot grow faster than the combined rate of inflation and population growth. State revenue collected in excess of the TABOR cap is refunded to taxpayers. TABOR also requires lawmakers to get voter approval for all tax increases.
It is projected that Colorado state government will have to refund roughly $500 million to Colorado taxpayers in 2020 due to revenue collections coming in above the TABOR cap. The progressive Democrats who run Colorado’s state legislature and Democratic Gov. Jared Polis are working to prevent those and all future refunds from happening with a measure referred to the November 2019 ballot that seeks to kill the Taxpayer Bill of Rights.
Proposition CC, which will appear on the statewide ballot in Colorado this fall, asks Colorado voters to allow state government to keep money that is supposed to be sent back to taxpayers in accordance with TABOR. Passage of Proposition CC would mean the end of the TABOR and the result would be a significantly higher tax burden in perpetuity for individuals, families, and employers across Colorado.
Vote NO on Proposition CC so you don’t lose your TABOR Rights
DENVER (AP) – Democrats who control Colorado’s statehouse are asking voters to dismantle part of a state tax regime which for decades has served as a model for fiscal conservatives nationwide.
Coloradans will decide Nov. 5 if the state can permanently keep tax revenue that otherwise would be refunded under limits set by a 1992 constitutional amendment called the Taxpayer’s Bill of Rights.
In other words, we’re on the path to fiscal crisis. Is there a solution?
Yes, we could adopt constitutional restraints on the growth of government. I mentioned Colorado’s Taxpayer Bill of Rights in the interview, as well as the “debt brake” in Switzerland.
Over the next few months, the Takings Coalition, with its insatiable appetite for OUR money, will use every propaganda trick available to convince Colorado voters to give up our Taxpayer’s Bill of Rights (TABOR) refunds – FOREVER! One vote and state government can keep all of our money – FOREVER!
That’s why we are fighting back against the ballot measure Proposition CC, and we need YOUR help today!
First, what is Prop CC? Simply, it’s a legislatively-referred ballot measure we’ll be deciding this fall. If voters say yes, then the state government will keep all of our TABOR refunds forever. It will cost Colorado taxpayers billions of dollars in perpetuity. It’s a forever tax increase on all of us, our children, and our grandchildren.
Prop CC is blank check for the legislature’s pet projects. Supporters say it will go to roads and schools, but there’s no guarantee. And we’ve seen the legislature play fast and loose with extra money from taxpayers such as Ref C dollars. Likely this money will go to backfill lost revenue from the oil and gas industry, an industry this legislature is trying to destroy.
Prop CC is a big step to total repeal of the greatest gift voters ever gave themselves and future generations – TABOR. Passed by voters in 1992, TABOR puts Coloradans, not politicians, in charge of the size and scope of government we want. It’s no wonder 71 percent of Colorado voters support TABOR.
No doubt the Prop CC proponents will claim the state is broke even though the budget will be nearly $32 billion. Since voters gave the initial thumbs up to TABOR, our budget has grown 300 percent. The state doesn’t need more of our money. The legislature needs to do its job and prioritize!
While voters love TABOR, the political elite, the professional Left, and special interests hate it. Over the last few days they’ve called TABOR and its supporters “brainwashed” “destructive” and “unconstitutional.”
After the November 5 election, they’ll be calling us winners because we will defeat Prop CC.
Lots of good people like former Governor Bill Owens, former U.S. Senator Hank Brown, CU Regent Heidi Ganahl, District Attorney George Brauchler, former State Treasurers Walker Stapleton and Mark Hillman and more all agree that Prop CC is bad for Colorado. We must get the word out to every Colorado voter! WE MUST SAVE OUR TAXPAYER’S BILL OF RIGHTS!
Will you join us? The other side will have lots of special interest money, but we have you! The No On CC issue committeeneeds $25,000 to get our digital campaign started and yard signs printed. Even $5 helps pay to print two signs!
Can we count on you to help us save TABOR now and for future generations? Can we count on you to contribute to this fight against the extremist overreaching majority at the Colorado State Legislature?
If you prefer to mail your contribution, please do so. Make the check payable to No On CC issue committee and mail to: No On CC Issue Committee, C/O Independence Institute, 727 E 16thAve, Denver, CO 80203.
For more information visit our Website VoteNoOnCC.com. Click herefor more information on our Taxpayer’s Bill of Rights
