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Proponents present two related income-tax measures; one would cut rates over two years and temporarily reduce select department funding
Summary
Proponents described Proposed Initiative 64 on April 4: it would reduce Colorado’s individual and corporate income tax rates in stages and requires that revenue losses in the first full fiscal year be offset by reduced funding to the Department of Revenue and Department of Personnel for that fiscal year.
Proponents presented Proposed Initiative 64 April 4, seeking staged reductions in Colorado’s individual and corporate income tax rates: from 4.4% to 4.35% in the 2027 tax year, and to 4.2% in the 2028 tax year and thereafter. The measure also includes language that any reduction in state revenue attributed to the first full fiscal year following the rate reductions would reduce funding for the Department of Revenue and…
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