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Thursday, October 20, 2005
Ref. C Would Lessen TABOR's Restrictions on CO Spending
Colorado's harmful Taxpayer's Bill of Rights (TABOR) -- which has contributed to a significant decline in the state's public services over the last decade -- will be at the mercy of voting Coloradoans November 1. They will have the opportunity to vote on "Referendum C," which, according to the Center on Budget and Policy Priorities, "would allow the state to spend all revenues it
collects under current tax rates for the next five years, even if those revenues exceed TABOR limits." The Referendum is supported by many individuals and groups, including business leaders, children’s advocates, Republican and Democrat legislators, the Denver Chamber of Commerce, and the conservative Colorado Springs City Council.
A new CBPP report, "A Formula For Decline: Lessons From Colorado for States Considering TABOR," outlines the consequences other states would face if they instituted TABOR-like restrictions on their spending. TABOR, year after year, has created a maximum expenditure level in Colorado that is below what is needed for many programs, and the funding cuts have had severe effects on Colorado schools, health care programs, and other vital services.
Posted by Becky Lewis
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