- March 4, 2021
Topline Summary: Under current law, the governor or executive branch officials can unilaterally allocate certain funds which originate from outside of the state—known as custodial funds—often with little or no oversight. Amendment 78 would democratize the process of allocating custodial funds by requiring the general assembly to appropriate such funds after a public hearing. IfREAD MORE
This issue paper discusses how Colorado has created loopholes, such as fees and enterprises, to bypass the Taxpayer’s Bill of Rights (TABOR).READ MORE
In Colorado we are experiencing the worst fiscal crises in the last half century. In this study we document the magnitude of the fiscal crises, comparing the revenue shortfall in
this recession with that in previous recessions. We then explore the reasons for the greater severity of the current fiscal crises in Colorado compared to prior fiscal crises.
The next sections discuss how our fiscal policies and fiscal rules of the game have contributed to the severity of the fiscal crises. We conclude with a discussion of the need
for reforms in our fiscal policies and fiscal rules to better achieve budget stability.
The Colorado Commission on Taxation has just completed a survey of Colorado citizen attitudes toward the tax system. This is an important survey because it reflects the views
of ordinary citizens rather than that of politicians or special interest groups. It reveals some hostility to taxes and a low trust in the efficiency of government. This skepticism
toward taxes and government efficiency is directly related to the size of government; citizens have more confidence in local government, less confidence in state government,
and least confidence in our federal government.