Tax reform initiatives take a step toward fall ballot
Colorado is one step closer to reforming our upside-down tax code after a diverse coalition submitted 17 potential ballot initiatives to the state this week. Vision 2020 organizers hope to finalize one (or more) of the initiatives and begin collecting signatures from Coloradans to get it onto the November ballot. The many versions of the initiatives fall into three buckets that would move Colorado closer to a sustainable tax system and meets the needs of Coloradans.
- Repeal: Restores shared responsibility for tax policy decisions between voters and elected representatives.
- Replace: Gives TABOR a much-needed update and offers lawmakers more flexibility to meet Colorado’s funding needs.
- Fair income tax: Raises tax rates for those earning over $250,000 a year, with one option including a tax cut for 90 percent of Colorado taxpayers and a rate increase for the top 10 percent of earners.
These measures are an opportunity for voters to start untangling Colorado’s fiscal knot, which has led to severe underfunding of some of Colorado’s most important services and programs. There are more decisions ahead, so be sure to keep up with the latest Vision 2020 updates by joining the network as a volunteer or following on social media.