The Colorado legislature this week will take on one of its only mandated actions — and by far its costliest: The state’s budget. The budget package, known as the long bill, lays out how the state will spend some $18 billion in general fund dollars in the next year. It also reveals some of the … Read more
Colorado Democrats are eying a large portion of the state’s $1.8 billion-plus surplus this year to provide child tax credits targeted to help lower-income families — along with another slice devoted to helping people working in health- and child-care fields. The proposals are costly policy moves that could put state lawmakers on a path for … Read more
Colorado Republicans repeatedly invoked Gov. Jared Polis’ support Monday in a legislative effort that was all but doomed from the start: a cut to the state income tax. Their bill, proposing to reduce the state income tax rate from 4.4% to 4%, received its first — and last — committee hearing in the House. The … Read more
For the second time in two months, Gov. Jared Polis on Wednesday signed a bill into law that temporarily doubles Colorado’s match of the federal Earned Income Tax Credit, boosting the amount of money that will go to working families this year. The new law — the first legislation signed by Polis during the 2024 … Read more
Colorado taxpayers won’t have to pay federal income taxes on their state refunds this filing season, according to two elected officials, after the IRS resolved uncertainty surrounding that issue — at least for now. U.S. Sen. Michael Bennet and Gov. Jared Polis confirmed the Internal Revenue Service’s decision during a Tuesday meeting with IRS representatives, … Read more
Coloradan taxpayers can each expect an extra $800 back when they file their state income tax returns early next year, state officials said Wednesday. The refund is based on revenue collected above the cap set by the Taxpayer’s Bill of Rights, or TABOR, the state constitutional amendment passed by voters in 1992 to limit the … Read more
