9NEWS’ Brandon Rittiman:
Colorado taxpayers could be in for state tax refunds between $15 and $89 per person next year, depending on household income.
Those were the predictions from economists for the governor’s office and state legislature presented Wednesday to the state’s joint budget committee.
Colorado is collecting more and more tax revenue due to an improving economy…
In the minds of most Government 101-level citizens, an improving economy would ipso facto mean revenue to plow back into all the priorities the state needs to fund: health care, education, transportation, law enforcement. It would mean no more, or at least fewer quibbles about money to fund programs already on the books like driver licenses for undocumented residents, and properly funding the Colorado Bureau of Investigations for concealed-weapons background checks.
But in Colorado, with our 1992 Taxpayer’s Bill of Rights tying the hands of elected officials, that conventional wisdom is turned on its head. AP’s Ivan Moreno:
The state’s quarterly forecasts released Wednesday from legislative and governor’s office economists showed lawmakers they will have to refund anywhere from $70 million to $220 million in tax year 2016. Those refunds are triggered by the state’s Taxpayer’s Bill of Rights, which calls for refunds when revenue exceeds the combined rate of inflation and population growth…
Democrats have long blasted TABOR spending limits as restricting government’s ability to make investments in services, particularly when the economy rebounds after years of cuts during recessions…Republicans, meanwhile, favor TABOR and see it as a needed check on overzealous government spending during economic booms.
If you ask the average Colorado citizen what TABOR does, if they have an answer at all it will usually be limited to its most famous provision requiring votes on tax increases. Unfortunately, that’s just the tip of a long, long iceberg. TABOR’s arbitrary limits on spending, restricted to the rates of inflation and population have made things even worse. The state has not fully restored the major cuts forced all over the budget during the recent recession–but without a statewide vote to allow “excess” funds to be retained and put to beneficial use, the benefit citizens naturally expect to realize from improving economy and government revenue is squandered.
Squandered so taxpayers can get a check for between $15 and $89. Yes, every dollar in your pocket counts. But the value of programs and services Coloradans rely on every day counts too, and in this case there is a strong argument that the personal benefit of properly funding our public institutions is worth more to a taxpayer than dinner at Chili’s.
Or at least it should be.