Brandon Richard is a reporter for Denver7 in Denver, Colorado.
DENVER — With just one week remaining in the 2024 legislative session, Colorado lawmakers are considering a new plan that would cut taxes and redirect TABOR refunds to lower-income families.
“There are 133,000 low-income children in Colorado,” said Tritten. “There are a lot of families in the state who are struggling to make ends meet. “ Under the proposal, families with children under age six could receive up to $3,200 per child. Families with children between six and 16 could receive $2,400 per child.
“When that went away, that meant that families fell back into poverty,” said Tritten. “This will help counteract that and move these families back out of poverty.” The expanded tax credits are part of a larger bipartisan deal, which includes a proposal to cut income taxes. In his State of the State address earlier his year, Gov. Jared Polis called for Democrats and Republicans to work together to cut income taxes.
Colorado Taxes Do I Qualify For A Tabor Refund Tabor Tabor Qualifications Tabor Refunds Tabor Refunds 2023 Tabor Refunds Colorado Tabor Refunds For Low-Income Families What Are Tabor Refunds
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