Two critical tax referedum votes will take place in Colorado today. Right now Colorado has one of most stringent caps on government spending in the nation under the Taxpayer Bill of Rights (TABOR), but one of the referendums would allow the state to keep excess TABOR revenue and increase the cap over $3.6 billion. If passed, Colorado will be retaining an estimated $3.7 billion over five years that would have otherwise been returned to taxpayers.
The other vote, Referendum D, would allow the state to borrow $2 billion for new spending projects.
Keep watch on what happens here because this is the first is a series of TABOR votes this fall with Kansas, Ohio, Maine, Nevada, Oklahoma and Arizona to follow later this year.