Thanks to the Taxpayer’s Bill of Rights, commonly known as “TABOR,” Coloradans will receive nearly $4 billion in excess revenue refunded from the state this year. That’s where those $750 checks for individuals and $1,500 for couples came from over the summer. On the ballot this year, Proposition 123 is asking voters to give up their refunds, at least in part.
If adopted by voters, the measure would reduce TABOR refunds by about $86 per person, based on information from the state voter booklet or “Blue Book.”
The measure dedicates up to 0.1% of income tax revenue to affordable housing programs administered by state bureaucracies. For years in which the state has a TABOR surplus, that would reduce TABOR refunds by about $300 million. State economists currently project refunds for at least the next three years. Even Democrats — who rarely refuse the opportunity to spend more of your money on new government programs — have been skeptical of the measure.
See the full article by Ben Murrey, October 20, 2022