Colorado has the most powerful TABOR (Taxpayer Bill of Rights) in the nation. Currently the state of Colorado can only increase annual government spending by the combination of annual inflation and the annual growth in population. For example, if inflation was 2% last year, and the population of Colorado grew by 2% last year, this would mean that the annual budget can only increase by 4%. Furthermore all unspent tax revenue MUST be returned to the taxpayers.
The only way this can be over-ridden is by a statewide ballot initiaitve. In other words it can only be overturned by the people of the state.
What a great and novel idea!
Unforunately, it looks like the voters of Colorado have given in to the forces of larger government and agreed to let the State spend 3.7 extra billion dollars in the next five year rather then return it to the taxpayers. With 73% of the vote in those in favor of spending the extra money have 53% of the vote and those against only 47%.
It is a sad day in Colorado.
The forces of larger government have won... It looks like they are going to be allowed to spend (I mean waste) more tax money.
At least they had to let the taxpayers in Colorado make this decision.
It is truly a sad day in Colorado...