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2024 TABOR Surplus Dollars: Why they should target low- and middle-income families

April 4th, 2024
Colorado Fiscal Institute

graph of tabor surplus dollars to each income group

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This brief looks at the distributional impacts of returning TABOR surplus revenue through five methods and which method would be most beneficial to low- and middle-income working families for tax year 2024:

Cutting the State Sales Tax
Six-Tier Sales Tax Mechanism
Earned Income Tax Credit
Cutting the Income Tax Rate
Identical TABOR rebates

How TABOR rebates will be sent to Colorado taxpayers for Tax Year 2024 hasn’t been decided yet. As legislators consider which bills are priorities for their constituents and all Coloradans, working families should be top of mind. We find the best way to center these taxpayers is through funding the Earned Income Tax Credit at 50% of the federal credit and making the identical TABOR rebate mechanism permanent.

Read the full brief

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2024 TABOR Surplus Dollars: Why they should target low- and middle-income families

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Colorado Families: Take These Three Bills to the Bank

Take Action Today: Put Families and Workers First this Legislative Session

Latest Insights

Medicaid Work Requirements Harm Families and Strain Colorado’s Systems

TABOR + Tax Cuts = Recipe for Disaster

The Rent is Too Damn High

Sign Up for Our Newsletter

Your support makes it possible for CFI to provide information that policymakers, community leaders, and residents need to make the best decisions for themselves and their communities.