No on Proposition 116

NO on PROPOSITION 116: Decrease state income tax from 4.63% to 4.55%

Summary of Proposition 116: The initiative would decrease the state income tax rate for individuals, estates, and trusts from 4.63% of federal taxable income to 4.55% for tax years commencing on and after January 1, 2020. The tax rate would also reduce the tax rate for domestic and foreign C corporations operating in Colorado from 4.63% of Colorado net income to 4.55%.

Recommendation Rationale: This is a billionaire bailout that will not help working families, and will instead gut our education and transportation budgets.