Bob Beauprez, Colorado’s Republican candidate for governor, has rejected out of hand the idea of asking voters if the state can keep excess tax revenue for fiscal year 2015-16 — “excess” meaning more than allowed under the Taxpayer’s Bill of Rights.
“I support returning it to taxpayers,” Beauprez said in a recent debate. “That was the intent of the law and taxpayers have every right to think it’s carried out.”
Gov. John Hickenlooper indicated at the same debate that he hasn’t made up his mind on the refunds, which would be the first ones available in years. A refund “makes sense,” Hickenlooper said, but added that “there are a lot of competing needs” in the state budget that could use the money.
No kidding.
For Pete’s sake, this should be a no-brainer. The state very much could use the money to backfill reductions in school funding during the recession — it’s facing a lawsuit on the cuts, as it happens — and for basic infrastructure.
Beauprez is of course right that the law must be followed. But the “intent of the law,” to adopt his words, is not necessarily that excess revenue be returned each and every time. TABOR says the money must be refunded unless voters say the state can keep it, and that second option is just as much in line with the intent of the law as refunds.
It so happens that the state is still in arrears in terms of its commitment to fund education under Amendment 23. Meanwhile, it has little money to fund badly needed highway improvements such as Interstate 25 north of Denver to Fort Collins.
It’s understandable that politicians might be hesitant to go to voters after the drubbing in 2013 that voters gave Amendment 66, which would have raised taxes for schools. But taxes wouldn’t be raised one bit if the state were able to keep potential refunds.
Moreover, voters have already proven themselves willing to skip refunds worth billions of dollars, which they did when they voted for Referendum C in 2005.
An upcoming TABOR surplus is great news, since it means the economy is growing along with tax receipts. But it’s also an opportunity for the state that should not be lost.
