This past weekend, Democrats in the state legislature pushed along a slate of bills that could nudge Colorado tax policy in a more progressive direction, advocates said.
As sounds from Cinco de Mayo celebrations echoed across the street from the Colorado Capitol this past weekend, Democrats in the state legislature pushed along a slate of bills that could nudge Colorado tax policy in a more progressive direction, advocates said.
Analysts with the progressive Colorado Fiscal Institute say the policies, if approved this fall, will work together to take at least a “small step” toward a tax policy that specifically benefits lower-income Coloradans., is “definitely more progressive” than the default income-based system, Colorado Fiscal Institute Legislative Coordinator Caroline Nutter said.
With the multiple pieces taken together — cutting a chunk from the assessed value, setting aside money for renters, and flattening TABOR refunds — “I do believe overall that this is going to do a lot for lower-income people who are really having a hard time keeping up with the cost of living,” state Rep. Chris deGruy Kennedy, a Lakewood Democrat and sponsor, said.
Michael Fields, president of Advance Colorado and advocate for fiscal conservatism, likewise argued this proposal is trying to “deceive people” into giving away TABOR refunds in the future. Voters need to vote yes to flatten the TABOR refund formula and see cuts to the property tax formula, and in return they let the state keep more taxpayer dollars. Backers say the extra tax revenue is needed to fund local services and education that could otherwise take a hit from lower property taxes.
Fields plans to challenge the proposal in court ahead of the November election and campaign against it in the meantime. He called it “just a bad deal for all Coloradans, regardless of whether they’re wealthy or not.” Wealthy Coloradans stand to lose the most from their TABOR refunds.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
In deal for property tax relief, Democrats look again to make TABOR refunds equalThe property tax proposal, SB23-303, has been under a microscope in the final days of the legislative session. Proponents of the measure, including Gov. Jared Polis, argue it’s necessary for …
Baca lebih lajut »
Colorado State Patrol searching for hit-and-run driver after crash in Otero CountyA person was left with serious injuries after a hit-and-run crash in Otero County early Sunday morning.
Baca lebih lajut »
Red-state Democrats look to turn local wins into split Electoral College vote in 2024Democrats in a pair of heavily Republican states are looking toward an obscure election law that could help the party pick up a few stray Electoral College votes that could help secure the White House in 2024.
Baca lebih lajut »
Two State Lawmakers Question Cinco de Mayo Weekend Off-Ramp Closures in San JoseTwo California lawmakers are questioning whether racial bias played a factor in the decision to shut down major highway off ramps into downtown San Jose during the Cinco de Mayo weekend celebrations.
Baca lebih lajut »
Air conditioning collapse injures 6 at Colorado resort poolFire officials say six people were hurt when part of a heating and ventilation system collapsed at a resort pool in Colorado, and two people have been hospitalized with life-threatening injuries
Baca lebih lajut »
Collapse at Colorado resort leaves 6 hurt, 2 with life-threatening injuriesFire crews said the collapse happened in the aquatics area at the Gaylord Rockies resort.
Baca lebih lajut »