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VIDEO: Legislature Steals TABOR Refunds, Pays Off Special Interests

VIDEO: Legislature Steals TABOR Refunds, Pays Off Special Interests

Last year, Independence Institute’s fiscal policy center published a 67-page report detailing every change made to state tax expenditures over Gov. Polis’s first term in office. This year, the legislature has proposed around two dozen new bills to further expand tax expenditures by over $600 million dollars in FY2024-25 alone, with more in future years.

Put simply, tax expenditures are provisions in the tax code that reduce overall state revenue by allowing special tax benefits for certain qualified tax taxpayers. These benefits might include credits, deductions, or exemptions to tax.

Today, Independence Institute released a short video explaining how in the 2023 legislative session the legislature is proposing over $600 million in new tax expenditures (FY2024-25) – and more in future years – and how they will use taxpayer refunds mandated under Colorado’s Taxpayer’s Bill of Rights to pay for those tax benefits for politically favored special interests.

You can watch the video here:

The fiscal policy center has also published several op-eds on the topic:

Ben Murrey, director of our fiscal policy center, also took several interviews to discuss the issue:

 

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Ben Murrey
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