Colorado Voters to Decide on Progressive Income Tax Amendment
- Reports
- 11
- Developments
- 2
- Repetition
- 82%
New informationRepeats or wire copies
What happened
Colorado voters will decide in the November 3 election whether to adopt Amendment 87, which proposes replacing the state’s flat income tax with a graduated income tax system. Proponents state the change would boost tax collections significantly and cut tax bills for the majority of Coloradans. Opponents counter that the proposal represents a tax increase exceeding $2 billion.
From greeleytribune.com
Why it matters
If adopted, the progressive tax would tax higher earnings at a higher rate, potentially causing the top 0.01% of earners to see their income tax bills almost double. The extra revenue raised would be dedicated to K-12 education, healthcare, and early childhood care and education in Colorado.
From greeleytribune.com
Who's involved
- ColoradoThe state where voters will decide on the tax code change.
- Cato InstituteAn American libertarian think tank that discusses the policy debate.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Mesa CountySpeculative
Local government funding access might be affected by changes in state revenue.
- Colorado Department of EducationSpeculative
The Colorado Department of Education might see increased revenue dedicated to K-12 education.
The Colorado Department of Public Health and Environment might see increased funding for healthcare and public services.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.How it developed
Newest first. Tap a step to see who reported it.Cato and Wyden clash over tax policy, with Cato favoring subsidy lapse and Wyden pushing tax burdens.1 source
Tax policy debate influences economic outlook.1 source
Keep exploring
The entities involved
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Cato Institute
American libertarian think tank
Nothing else this week.
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Colorado
state of the United States of America
Related events
- Economist Steven Barnett is tracking Colorado's tax revenue.
- State measures in Colorado are impacting the future taxes of University of Northern Colorado students.
- The Colorado Organization for Latina Opportunity and Reproductive Rights supports a progressive tax amendment.
- Voters approved constitutional amendments capping income taxes and raising tax thresholds in several states.