November 21, 2014 12:06 PM UTC

Get a Handle on Colorado's Fiscal Challenges With '12 Charts'

• 0 Comments
• by: TheBell

As legislators begin to write the budget, state economists are projecting that General Fund revenues will exceed the TABOR/Ref C limit. It has been more than a decade since Colorado last hit the TABOR limit, but the consequences are clear: Colorado will be returning tax dollars before restoring the cuts made to vital services.

This is not a new problem in our state, and it's not the first time we've weighed in and said we need to have a statewide conversation about both our fiscal challenges and the kind of state we want to be. But this seems like a good time to say it again. And we've brought visual aids — Colorado's Fiscal Challenges — in 12 Charts.

Structural problems in the state's tax code increasingly undermine the state's ability to support the public structures that underpin our quality of life. From a flat income tax that does not capture significant tax revenue from the highest income brackets to an obsolete sales tax structure, Colorado's fiscal structures need a tune-up. With TABOR rebates on the horizon, we believe a statewide conversation must start with renewed energy. We hope our 12 Charts educate and engage decision-makers, advocates and allies to address both our unavoidable short-term challenges and our impending long-term ones.

 We think these charts tell a compelling story – that Colorado must act now to preserve its high quality of life.