CU Leeds School of Business studies shows that without substantial improvement in student performance, Amendment 66 is a drag on the Colorado economy.
What is Amendment 66?
Amendment 66 is a proposed statewide ballot initiative that would generate nearly $1 billion for Colorado’s education system by increasing income taxes from the current 4.63% flat tax to a two-tired tax of 5% for the first $75,000 household earners to 5.9% for households in excess of $75,000. The increase from 4.63% to 5.9% is a 27.4% tax increase.
How would Amendment 66 affect Colorado taxpayers?
Amendment 66 is a two-tiered tax increase with negative implications for individual income earners, decreasing disposable income. Result = a loss in savings and consumption, which negatively affects Coloradans and small businesses.
What does Amendment 66 mean for Colorado small businesses?
Coloradans can expect to see 6,500 fewer private sector jobs on average in the first 5 years and 13,400 fewer between 2019-2040.
Colorado education What if … Colorado had the highest graduation rate in the nation?
From 75% now to Iowa’s 88% Economic Implications = Reduction in incarceration rates Reduction in social assistance Earnings realized from increased education levels When coupling the tax increase with the educational benefits of higher high school graduation and college matriculation rates, the impact on the economy is net neutral to slightly positive. BUT Amendment 66 DOES NOT include ANY performance based metrics.