Colorado Fiscal Institute: Amendment 66 will Improve Colorado’s Income Tax
ITEP Work in ActionAmendment 66 will restore Colorado’s ability to raise enough revenue to meet our schools’ growing needs and make the income tax more like those of our neighboring states, all without overburdening Coloradans. From the adoption of the income tax in 1937 through 1986, Colorado used a “tiered” income tax, where tax rates rose along with a taxpayer’s income. Shifting to a single-rate income tax in 1986 seriously harmed the state’s ability to fund education. Amendment 66 will reinstate Colorado’s tiered personal income tax, making Colorado more like other states, the vast majority of which employ a tiered income tax.