A Stimulating Effect for Colorado

The Denver Post has a nice rundown of what the federal stimulus package could mean for Colorado, including some COFPI analysis.

From additional analysis that we've done, it appears that the tax credit provisions in the current iteration of the stimulus plan could mean some significant benefits for most if not all Colorado taxpayers:

Child Tax Credit (partially-refundable):
Committee: House Ways and Means
Tax Credit Amount: Up to $1,000
Full refund when a family makes $13,333/yr., partial refund phases in at $1/yr.
Number of Children Assisted: 197,000
Possible benefit to Colorado: $197 Million, though more likely closer to $140 Million

Making Work Pay Tax Credit (refundable):
Committee: House Ways and Means
Tax Credit Amount: Up to $500 per worker
Full refund when worker makes $8200. Below that amount, worker is refunded 6.2% of their earnings. Tax credit phases out when a worker makes $100,000/yr.
Number of workers assisted: 1.767 Million
Possible benefit to Colorado: $850 Million, though more likely closer to $650 Million.