Colorado voters strongly reject ballot measure allowing state to increase its revenues
Despite Colorado handing Democrats control of both houses of the state Legislature, the governor's mansion, and three other statewide offices, its voters don't want the state to keep more of their money. A ballot measure to increase state revenue, Proposition CC, went down to strong defeat. A final count is not yet available, but Colorado Public Radio reports, "The measure was trailing by more than 100,000 votes when the AP called it shortly after 8:30 p.m. on Tuesday."
Anti Prop CC crowd declaring victory. Amy Cooke with Independence Institute says they were outspent, but not outworked. Also says they overcame ballot language that was very favorable to pro side. Says bring on the full TABOR repeal that could come next year. pic.twitter.com/NdDI05rQ6l— Nathaniel Minor (@nbminor) November 6, 2019
Proposition CC would have overridden the Taxpayer Bill of Rights (TABOR), which, Todd Shepherd explains in the Free Beacon,
... is a law [a constitutional amendment, in fact] that caps state spending every year using a formula based on population and inflation. Monies collected in excess of that spending limit are supposed to be returned. Proposition CC asked voters to let the state keep those over collections in perpetuity rather than cut refund checks or give the money back in other legally allowed ways. (snip)
Although tax rates may remain unchanged, revenues to the state can surge when the economy is good, and if those revenues exceed what the state can legally spend under TABOR, the refund is triggered.
Shepherd dryly notes:
The rejection of the measure may signal to Democratic presidential candidates that swing-state voters are reluctant to green light new taxes or spending programs.
CC would not even have raised taxes; it would have prevented refund checks.
The revenue over the next three years that would be returned to voters is estimated to be between $1.2 and $1.5 billion, based on economic forecasts provided to the state legislature. Toward lower income tiers, the refunds in each of those years might be anywhere from $35 to $90, while upper income joint filers could see refunds between $750 and $1,000.
The Democrats' game always is to pretend they will tax only the other guy, the "millionaires and billionaires" whom Bernie Sanders used to talk about before he became a millionaire and started talking about only billionaires.
The Colorado results strongly suggest that GOP candidates need to run on the basis of protecting the Trump tax cuts, letting voters know how much their taxes will go up and how the economy will tank if any Democrat gets the presidency and the donkeys run both houses of Congress. Elizabeth Warren as the nominee would make it easy, since even her Democrat rivals agree that she can't pay for her 50-some-trillion health care scheme on the backs of the wealthy alone.