Ahead of the Senate hearing on “Offshore Profit Shifting and the U.S. Tax Code,” I released a report reminding us that contrary to the perception created by these types of political spectacles, corporations pay a...
- New Study Rebuts Criticisms of Taxpayer Bill of Rights
New Study Rebuts Criticisms of Taxpayer Bill of Rights
For immediate releaseMedia contact: Chris Atkins (202) 464-6200
WASHINGTON, D.C.—Critics looking to blame Colorado's Taxpayer Bill of Rights (TABOR) for the state's budget woes are off the mark, according to a new analysis released by the Tax Foundation.
"Contrary to the assertions of critics, the evidence shows TABOR had no measurable impact on public health or educational outcomes in Colorado," said Staff Attorney Chris Atkins, author the new analysis. "In fact, TABOR actually saved Colorado from a more severe revenue shortfall during the last recession."
Colorado's TABOR has come under intense scrutiny in recent months. Written into the state constitution in 1992, the legislation imposes strict tax and spending limits on lawmakers. In recent months critics have blamed TABOR for revenue shortfalls and declining public services. Currently 16 other states are considering similar TABOR legislation.
"Most criticisms of TABOR have relied on very selective statistics and rankings," said Atkins. "A more complete assessment of the state shows Colorado is in no way sub-standard, and it's simply inaccurate to blame TABOR for any perceived inadequacies."
The analysis notes Colorado compares favorably to other states by a range of fiscal measures. Colorado's per capita tax burden is 10th lowest in the nation, and its business tax climate ranks 8th friendliest in the nation according to Tax Foundation reports -- the highest ranking of any state with a sales tax and corporate and personal income taxes. Colorado also boasts the 2nd highest level of economic freedom of any state according to the Pacific Research Institute's "U.S. Economic Freedom Index."
The Tax Foundation has monitored tax policy at the federal, state and local levels since 1937. Best known for its annual calculation of Tax Freedom Day®, the Tax Foundation is a nonprofit, nonpartisan 501(c)(3) organization based in Washington, D.C.
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Media contact: Chris Atkins (202) 464-6200