taxes

Colorado Amendment 69

Amendment 69 in Colorado would dramatically alter the state’s tax and health care systems, coupling a new 10 percent payroll and income tax with universal health care. Called ColoradoCare, Amendment 69 would hurt Colorado’s tax climate as the state would surpass California with the highest individual income tax rate in the country. Amendment 69 would create a new bureaucracy, with immense authority to change taxes, outside of the state’s current balance of powers, eliminating transparency for taxpayers. Colorado would plummet from 16th to 34th nationally on the State Business Tax Climate Index, confronting voters with an important choice in the Centennial State.

While the cost of this tax would be at least partially offset for Coloradans who decide to forego private insurance in favor of ColoradoCare, this may not be an option for many Coloradans. There remains, moreover, substantial uncertainties about the administration of ColoradoCare and whether the proposed premium rates would be adequate to fund the program. Proponents tout ColoradoCare as a bold solution. It would certainly be that, but the mechanics of the program make it untenable.

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