In short, TABOR is a way to limit the growth of government. Under the amendment, revenue in excess of the TABOR limit must be returned to taxpayers, though it appears the legislature has some discretion in how it distributes those funds.
But Colorado’s legislature, chafing at TABOR’s limits, has been trying to undercut the amendment. It recently succeeded and, in doing so, redistributed revenues from the most productive people to the least productive.
This is from David R. Henderson, “Tabling TABOR,” TaxBytes, Institute for Policy Innovation, January 17, 2024.
Read the whole thing, which is the shortest TaxBytes I’ve written.
