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Colorado Graduated Income Tax Proposal Heads to Signature Review
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Colorado Politics, Approved, State

Colorado Graduated Income Tax Proposal Heads to Signature Review

By Marianne Goodland | Colorado Politics The measure, which eliminates Colorado’s flat tax, is expected to raise $2 billion in new revenue The proposal to amend the Colorado constitution to change the state’s flat rate into a graduated income tax came in under the wire Monday, the deadline for groups to turn in petition signatures for November’s ballot, setting up a high-stakes battle over revenue. Backers of the graduated tax proposal — which would marginally decrease the tax liability for the lower ends of the new bracket, while raising taxes for others — turned in 157,000 signatures with about an hour to go before the 5 p.m. deadline. The proposal, if approved at the ballot box, is expected to generate $2 billion more in tax revenue for the state. Doze...
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Two measures. Two opposite answers. One Colorado income tax rate.
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Rocky Mountain Voice, State, Top Stories

Two measures. Two opposite answers. One Colorado income tax rate.

By Shaina Cole | Contributing Writer, Rocky Mountain Voice Colorado voters may face a choice in November between two measures that couldn't disagree more about the state income tax. One would replace the flat rate with a graduated system and raise close to $2 billion a year. The other would make it illegal to raise the rate at all. Neither one is a new idea. And the differences between them go deeper than the rate. What each one does Colorado's income tax has been flat since 1987, meaning everyone pays the same percentage regardless of what they earn. The rate is currently 4.40 percent. Initiative 195, backed by a coalition led by the Bell Policy Center, would replace that with six brackets.  The Legislative Council Staff, which produces nonpartisan fiscal analys...
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Initiative 195 would raise taxes on Colorado’s top earners. A new report asks whether they’d stay.
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Rocky Mountain Voice, State, Top Stories

Initiative 195 would raise taxes on Colorado’s top earners. A new report asks whether they’d stay.

By Jen Schumann | Rocky Mountain Voice The income tax on a Colorado household earning under $25,000 would fall by $9 a year under Initiative 195. A filer reporting between $2 million and $5 million would pay about $13,914 more. Both figures come from the measure's certified ballot title. The Common Sense Institute, a free-market policy group in Greenwood Village, says that second household is also the one most likely to pack up and leave Colorado, and that the state would lose part of the revenue the tax is supposed to bring in right along with it. Initiative 195 would end Colorado's flat income tax. The state taxed income on a graduated scale for its first 50 years, then switched in 1987 to a single rate, now 4.4 percent, that applies to every earner.  In its place, 1...
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Colorado Liberal Coalition Seeks To Unwind TABOR With Graduated Income Tax Plan
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State, Approved, The Colorado Sun

Colorado Liberal Coalition Seeks To Unwind TABOR With Graduated Income Tax Plan

By Jesse Paul | The Colorado Sun The plan would increase income taxes on people earning at least $506,000 in annual taxable income to raise more than $2 billion each year for things like health care, education and public safety. People earning less would get a tax cut. A group of liberal advocacy groups is pursuing a 2026 ballot measure that would change the state constitution to enact a graduated income tax rate in Colorado and raise more than $2 billion each year for services like health care, education and public safety. The plan would increase income taxes on people earning at least $506,000 in annual taxable income. The proposal would lower the income taxes on people earning less, who represent the vast majority of Colorado taxpayers. The changes would also apply to busine...
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New Era Colorado exploits budget crisis to push higher taxes
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Colorado Accountability Project, Approved, Commentary, State

New Era Colorado exploits budget crisis to push higher taxes

By Cory Gaines | Commentary, Colorado Accountability Project New Era Colorado Using CO's budget crisis to push a graduated income tax. I wanted to share a tweet I saw from Free State Colorado recently. The tweet is linked first below if you want to see the original (and/or follow them on Twitter--which you should if you're not following them some other way). If you don't have twitter, the subject of the tweet is how progressive policy organization New Era Colorado is pushing for a "graduated" income tax and using current Federal policy + the state's budget problems as justification. Free State Colorado put up pictures of an email that New Era sent out on Aug 6th encouraging their followers to write in an email encouraging what they call a graduated income tax in Colorado. I...
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