By Thelma Grimes | Colorado Politics
Election officials on Thursday confirmed that the proposal to cap the state’s income tax at the current rate submitted signatures and voters will consequently decide its fate this November.
The fight over tax rates is part of the tug and pull in Colorado between opposing political forces feuding over state revenue. One side of that fight argues that Colorado isn’t generating enough revenue to spend on state priorities, such as education. The competing side counters that the state already collects enough — but policymakers’ spending priorities are misplaced.
The Secretary of State’s Office on Thursday cleared Initiative No. 232 after Advance Colorado, the group behind it, submitted more than 184,000 signatures to get it on the ballot. The state’s Elections Division said the number of valid signatures exceeded the threshold required for qualification.
Initiative No. 232 would set a statutory cap on Colorado’s income tax rate at 4.4%, positioning itself as a counter to a separate proposal seeking to undo the state’s flat rate in favor of a graduated system.
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