VIDEO: Upcoming Ballot Measure Threatens Colorado Taxpayers

TABOR, the Taxpayer’s Bill of Rights, limits the growth of government spending in Colorado. Though some Coloradans might not be familiar with this particular piece of legislation, it has played a key role in Colorado’s competitive landscape.

“We celebrated the 30th anniversary of the Taxpayers Bill of Rights being passed via ballot measure last year in November, said Nick Stark, ALEC’s Tax and Fiscal Policy Taskforce Director. “Basically, what you had was good, fiscally responsible legislators in Colorado who put several things on the ballot. One of the things was TABOR just in case future generations weren’t fiscally responsible. That’s how we got to cap that.”

According to Stark, TABOR has restrained the growth of state government and returned billions of dollars to Colorado taxpayers.

“The spending constraint that TABOR has imposed over the last 30 years has really kept Colorado competitive when it comes to economic competitiveness. We discuss that in Rich States, Poor States where Colorado maintained a relatively positive economic outlook ranking for years. At one point they were number two overall. This year, however, they fell to their lowest overall ranking. That’s basically because of an increasing progressive policy push that has increased the size of government and undermined fiscal responsibility. What they’re doing is taking  more and more money from taxpayers.”

This fall, that progressive policy push comes to life in the form of Proposition HH. A ballot measure put forth by the state legislature, HH provides homeowners with a temporary property tax cut in exchange for an increase in government spending.

“If the population grows by 1% and inflation grows by 2%, then the budget can grow 3%,” Stark explained. “Over time, it could be this really terrible thing. The government could increase spending by 4% next year. Some might not think that’s a lot, but some think tanks have run the numbers and discovered modest increases could mean the state would keep up to $2 billion in forgone TABOR refunds that could have gone back to the taxpayers.”

That’s approximately $465 per taxpayer – more than enough to make a difference for those struggling to make ends meet.

“There’s an old joke about the difference between government and a drunken sailor – the drunken sailor stops spending when the money runs out. Unfortunately, governments never seem to learn that lesson. And in Colorado, where TABOR has kept that spending at bay, Proposition HH provides politicians with the opportunity to keep more of the refunds taxpayers so richly deserve.”