DENVER | Colorado’s House has tentatively approved a bill to ask voters if the state can keep excess tax revenue — and another to spend that money on roads and schools.
The Democrat-led House approved the bills Friday. Another vote sends both to the Senate.
Speaker KC Becker says the state needs the money to address Colorado’s transportation and education needs.
One bill would ask voters in November if the state can keep excess revenue that would otherwise be refunded under the Taxpayer’s Bill of Rights.
The other would allocate that revenue to K-12 schools, higher education and transportation.
Republicans oppose the bill. They credit TABOR for limiting government growth and helping fuel Colorado’s economy.
TABOR allows state and local government to ask voters to either raise taxes or keep excess revenue.