Polis Opposes Amendment 87, Colorado’s Graduated Income Tax Plan

Gov. Jared Polis, a Democrat, opposes Amendment 87, a Nov. 3 ballot measure that would replace Colorado’s flat 4.4 percent income tax with graduated rates, Reason reported Oct. 29. Reason reported he called it a huge blank check for politicians that would cripple the economy and reduce jobs.

Colorado Politics reported in early October that the measure would create six brackets starting in 2027. Taxpayers earning under $500,000 would generally get a cut of up to about $325, and higher earners would pay more, with the new revenue, about $2 billion in the first full year by state analysts’ estimate, intended for K-12, health care and early childhood programs and exempt from the TABOR cap. Reason reported the top rates would be 7.4 percent above $500,000 and 8.4 percent above $1 million.

Backers include the Bell Policy Center and Protect Colorado’s Future, per Colorado Politics, and, according to Reason, the state Democratic Party and the AFL-CIO. Proposition 136 would cap rates at 4.4 percent; broadly, when conflicting measures both pass, the one with more votes prevails, both outlets reported, though Colorado Politics said lawmakers or courts might have to sort out how they interact. Reason reported the Denver Post editorial board urged voters to reject both.