With limited days left in the Colorado legislative session, lawmakers are rushing through a last-minute bill that would impose a massive tax increase on the business community in the middle of the worst economic crisis in decades.
As you know, the U.S. Congress passed the CARES Act to help businesses and their employees through these challenging times. House Bill 1420, which was introduced in the Colorado General Assembly late on Monday night, would take away CARES ACT tax relief that was meant to help businesses get through the pandemic.
Sponsors of the bill disingenuously claim that it will only impact “big corporations” — that is categorically false. The specific tax deductions they are proposing to get rid of were specifically made for small businesses. If this bill passes, it will be devastating for small businesses and the workers they employ across every industry — from manufacturers to retail to agriculture to construction and more.
The bill is now being fast-tracked through the Legislature and we need your help to stop it. Tell members of the House of Representatives to OPPOSE a massive tax increase on small businesses in the middle of an economic crisis!