Colorado Comes Up Short in Fight to Loosen TABOR Restrictions; Severance Tax Also Fails

Colorado's ballot outcomes represent the most serious defeat of good tax policy to take place in this election. A proposal to send the automatic TABOR refunds into a savings account for education, as well as another proposal to end a costly and unnecessary tax break for the oil industry both fell short. Each of these proposals had the potential to secure more revenues for the state at a time when Colorado services are suffering, and the state is facing a mid-year budget shortfall. Descriptions of both of these failed proposals can be found in our Colorado archives.