Friday, October 4, 2013

Amendment 66 will improve Colorado’s income tax


Amendment 66 will restore Colorado’s ability to raise enough revenue to meet our schools’ growing needs and make the income tax more like those of our neighboring states, all without overburdening Coloradans. From the adoption of the income tax in 1937 through 1986, Colorado used a “tiered” income tax, where tax rates rose along with a taxpayer’s income. Shifting to a single-rate income tax in 1986 seriously harmed the state’s ability to fund education. Amendment 66 will reinstate Colorado’s tiered personal income tax, making Colorado more like other states, the vast majority of which employ a tiered income tax.

Amendment 66 will not exhaust the resources of Coloradans, even as it brings in an additional $950 million in revenue dedicated to public education. Colorado will remain well below the national average in state and local tax collection. Furthermore, investing $950 million in education is expected to strengthen and grow the economy, not slow it.

Click here to view the full report compiled by CCLP, the Bell Policy Center, and the Colorado Fiscal Institute. You can also visit www.coloradocommits.com/66-explained/ for more information.

1 comment:

Daniel Efosa Uyi said...

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keep up the good work friend. I will be back to read more of your posts.

Regards