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TABOR checks hit the mail as Governor attempts to brand them as ‘Colorado Cashback’

DENVER, Colo. (KRDO)-- According to Colorado Governor Jared Polis, TABOR refund checks have already arrived in the mail system.

The Taxpayer Bill of Rights (TABOR) Amendment was approved by voters in 1992. It limits the amount of revenue the State of Colorado can retain and spend.

But in recent months, Polis and Colorado Democrats have been touting the TABOR refunds as 'Colorado Cashback' in an apparent attempt to claim credit for the money headed back to Coloradans that is mandated by law.

On Wednesday, and for the third time now, Polis held a news conference, highlighting that Colorado is doing well economically, and in return, that tabor checks are going to be big and arriving to taxpayers early.

But as recently as 2019, Polis and most Democrats were in favor of Proposition CC, which would have allowed the state to keep that excess tax money. In a sense, it would have deactivated TABOR.

Now, three years later, the Colorado Democrats are rebranding, with TABOR checks becoming Colorado Cashback.

Polis was pressed by multiple reporters on Wednesday on the irony that he is celebrating something he has stood against in the past. One reporter asked the governor, "You don't see the irony in standing up there celebrating something that you have railed against in the past?" Polis replied, "This is great news for Coloradans."

With the mid-terms approaching, it appears Polis is now focused on his financial track record, highlighting programs that have cut costs and closed tax loopholes, while also accelerating the timeline for those TABOR refunds

"We know that you need your hard-earned money back. We're really excited to have increased the amount by about $50," he added.

But as the Polis trotted out his Colorado Cashback branding once again, it took questioning for him to admit it's a TABOR refund.

"No one ever has indicated it's not," Polis responded. "It is a tabor refund mechanism. It's one of four. It's a new one that we created."

In the past, taxpayers received refunds from the "excess state revenue." However, following the passing of Senate Bill 22-233, Coloradans will receive the refunds differently from previous years. According to the state, SB 22-233 was meant to "provide immediate relief to Coloradans" by sending TABOR refunds out in the summer as opposed to the spring of 2023.

The state has dubbed this expedited tax rebate "Colorado Cash Back."

The Department of Revenue estimates the checks to be sent out the first week of August. According to the Colorado Cash Back website, checks should be received by September 30, 2022. Extended filers who have a deadline of October 17, 2022, will receive the refund by January 30, 2022.

Taxpayers will receive the checks through the mail.

Individual filers can expect $750 back and joint filers will receive $1,500.

Taxpayers are asked to make sure their current and correct address is on record with the Department of Revenue. To update your address, click here or submit a completed Address Change Form.

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Spencer Soicher

Spencer is the weekend evening anchor, and a reporter for KRDO. Learn more about him here.

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