Tax-refund debate flares up again in Colorado
Colorado’s economy is growing, and government officials are getting more comfortable asking the state for help with their funding needs after years of budget cuts.
But more revenue means Colorado is required to start issuing refunds mandated by the Taxpayer’s Bill of Rights when revenue exceeds the combined rate of inflation and population growth.
Already there’s talk from lawmakers about whether they should ask voters in November to keep the refunds to restore recession-era budget cuts.
The question pits Democrats, who have long argued that Colorado’s spending limits restrict government’s ability to budget, against Republicans, who see the requirements as forcing the state to operate within its means.
The state is budgeting nearly $137 million for refunds in the 2016 tax year.
