November 02, 2005
Bummer
Colorado residents have voted to suspend their Taxpayer's Bill of Rights, the strictest government spending limit in the nation, and give up more than $3 billion in tax refunds to help the state bounce back from a recession.
The approval of the Colorado referendum allows the state to keep an estimated $3.7 billion over five years that otherwise would have been refunded to taxpayers.
A second statewide ballot measure meant to let the state borrow up to $2.1 billion for roads, school maintenance, pensions and other projects narrowly lost.
Full story here. Colorado's suspension of TABOR probably makes it more difficult for other states, including GA, to enact tax and expenditure limitations.
Posted by E. Frank Stephenson at 12:46 PM in
Politics
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