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Tag: Earned Income Tax Credit

HB26-1240: Colorado Democrats Expand Tax Giveaways—and Eat Your TABOR Refund
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Colorado Accountability Project, Approved, Commentary, State

HB26-1240: Colorado Democrats Expand Tax Giveaways—and Eat Your TABOR Refund

Cory Gaines | Commentary, Colorado Accountability Project HB26-1240 (linked first below) is a great example of tax policy which mimics a dynamic I have seen with other policy such as gun control. Rather than taking all in one big shot, something that would get all kinds of undue attention, you take in a piecewise manner. E.g. in year 1 you get red flag laws passed, but they’re limited so as to not cause too much heartburn. When that settles down, you can then spend subsequent years making additions to that first law. In the case of HB26-1240, you start by offering expanded tax credits to people and then you expand the credits further. In order to fully appreciate what I mean, we have to do some background first. Colorado’s Earned Income Tax Credit (EITC) is another ...
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Democrats Push Sweeping Tax Plan Reversing Federal Tax Benefits For Colorado Business
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TSS Colorado, Approved, State

Democrats Push Sweeping Tax Plan Reversing Federal Tax Benefits For Colorado Business

By: Ed Sealover | TSS Colorado Democratic legislators are poised to unveil a quartet of bills next week that could decouple Colorado law from hundreds of millions of dollars in new federal tax breaks, end tax exemptions on downloadable-software sales and rein in several long-standing corporate deductions. The bills, written in cooperation with the Colorado Fiscal Institute, are largely a reaction to last year’s federal passage of the “One Big Beautiful Bill” that offered significant corporate tax breaks and blew a hole in Colorado’s budget, CFI policy manager Caroline Nutter said. Because Colorado conforms its tax code to federal code, any cut in income produced by federal changes reflects in revenue reductions to the state government as well, leading to a $1.2 billion l...
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