Editorial | 'Colorado has long suffered under the yoke of the unworkable, regressive monstrosity of TABOR.'
Gov. Jared Polis and state lawmakers decided that TABOR refunds — the amount of money over Bruce’s revenue formula that must be given back to taxpayers — should go back to Coloradans on a per-taxpayer basis rather than through a formula that gives the money back to wealthier Coloradans first.
We do not love that lawmakers decided to make this good public policy conditional on voters approving another ballot measure — Proposition HH which will reduce both property taxes and the TABOR income tax refund simultaneously if voters say yes. Nor do we understand why they would only make it effective for a single year, when the property tax policy they are tying it to has a 10-year sunset.
Polis told us the two are tied together because if HH fails there will be dramatically more money in the TABOR refund pot and lawmakers will want to develop a different policy based on the amount available. He mentioned the possibility of increasing the Earned Income Tax Credit — a policy we have long supported.
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