Colorado Democrats unveiled a suite of bills Tuesday that aim to divorce the state tax code from recent federal changes — generating extra state revenue that would be used to provide at least some money to low and middle-income families with children.
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But in the business community, people worry about the proposals hamstringing Colorado’s competitiveness with other states, Colorado Chamber of Commerce President and CEO Loren Furman said Tuesday. The chamber hasn’t taken a formal position yet, but Furman said it has “deep concerns” about the overall package.
“Together, these proposals shift the burden of Colorado’s budget shortfall on the backs of employers of all sizes via procedural changes to the tax code, reviving several problematic concepts from bills that we’ve repeatedly fought, negotiated or killed in prior years,” Furman said in a statement. “At the end of the day, these bills will increase taxes on businesses at a time when Colorado’s competitiveness rankings continue to decline, further driving companies and families out of the state due to sky-high costs.”
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