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TABOR limits

A bipartisan effort to retain refunds would benefit Colorado in many ways

State legislators are not far from the necessary compromises on portions of the state’s $28 billion annual budget, which will go into effect July 1. Improving state revenue is making additional spending possible, with the budget picture brighter than it has been.

Pre-K through 12th-grade education is suggested to receive an additional 3 percent, higher education an additional $95 million and state employees to receive a raise of 1 percent.

The budget includes about $170 million in capital construction spending, and an additional $182 million to Medicaid, medical care for those with low incomes.

There will be additional inspectors in the gas and oil energy fields and caseworkers to oversee vulnerable children, and some additional funding for a college-readiness program. Tourism-promotion dollars will not be reduced.

Most troubling, however, the budget also includes about $70 million in refunds required by the Taxpayer’s Bill of Rights. Revenue increases have exceeded the growth in population and inflation for the first time after several years, and refunds are expected for the next two years, as well. For fiscal year 2016-2017, an early refund estimate amount is about $120 million.

The first year’s refund – which could be anywhere from $15 to $200 per taxpayer – would come with a taxpayer’s 2016 tax bill, or about a year from now.

That money, about $70 million from this year and about $120 million from the next, should be retained for specific state needs.

The state’s highways could easily benefit from the money, as could education, both K-12 and post high school. With an out-of-date state fuel tax amount, Colorado’s roads are continuing to suffer. And everyone knows how far behind all other states Colorado is in per-pupil funding of education while high school graduation rates are not what they should be.

Increased state revenue comes not from any new taxes, but from an improved economy. On a couple of key measurements, Colorado’s rebound from the 2008 mortgage collapse is among the best in the country. Neither Colorado political party, however, is showing much enthusiasm for suggesting that the TABOR refunds be retained by the state.

They both should. Solidarity among the members of each party would blunt the usual criticism and finger-pointing over taxes.

Failing that, however, the question should be put to the voters in November. Retain the TABOR refunds for three years for these specific purposes, or not.

Colorado has a lot going for it, reflected by praise for its lifestyles and for its economic diversity and growth. But those attributes require adequate underpinnings, including rural and metro highways, and the proper funding for education at all levels.

We are pleased that legislators have come this far with a collaborative working style to shape the coming year’s budget. The capstone would be for them all to act on the importance of retaining the TABOR refunds generated this year.



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