Colorado Politics

Ironically, GOP tax bill could boost funds for Colorado roads. Thanks, Trump.

Oh, the irony of Republicans in Congress passing a massive federal tax cut that would actually provide Colorado with a boon in state tax revenue, and only a year after state GOP lawmakers shot down a proposal to ask voters for a dedicated revenue stream to fund the $9 billion backlog of transportation needs.

The state’s top economists estimate the federal changes in tax code that are sitting on President Donald Trump’s desk would actually increase income tax revenue in Colorado by an estimated $196 million to $340 million a year beginning in fiscal year 2018-19.

That means the newly passed tax bill would generate more money than the sales tax boost proposed by a bipartisan group of Colorado lawmakers earlier this year to fund transportation needs. Republicans in the state Senate refused to send that tax increase to voters. But this new revenue would come without that difficult hurdle. Thanks, Congress!

Read more at The Denver Post.

 
DOUGAL BROWNLIE
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