TABOR Returns!

Tuesday the National Taxpayers Union, the Independence Institute, and various taxpayer groups in Colorado hosted a press conference to herald the return of Colorado’s Taxpayer’s Bill of Rights (TABOR). This is good news for fiscal conservatives. Even though TABOR’s return will have little short-term effect on Colorado fiscal policy, it marks an important first step in rehabilitating the reputation of TABOR. It also brightens the prospects for the enactment of effective fiscal limits across the country.

Prior to TABOR’s enactment in 1992, previous efforts to enact effective fiscal limits met with little success However, TABOR’s low, constitutional revenue limit and provisions mandating immediate rebate of surplus revenues have rightfully earned it the reputation of being America’s most effective fiscal limit. Between 1997 and 2001 Colorado taxpayers received $3.2 billion in tax rebates courtesy of TABOR. During this time, Colorado easily led the country in both tax relief and economic growth. TABOR was seen as a model fiscal limit for other states to follow.   – More -