Amendment 87 would amend TABOR (the Taxpayer Bill of Rights) and create a new graduated state income tax. The move would lower the rate for the least wealthy Coloradans and raise it for the wealthiest.
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The Colorado Chamber of Commerce also opposes the graduated income tax. It says tax competitiveness in Colorado is already eroding, and the state is losing companies to other states.
“As Colorado works to reverse these trends and attract new investment, significant changes to our tax structure would present a competitive disadvantage,” it said in a press release.
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