REFUND WILL COME IN THE SUMMER

Newsroom El Comercio de Colorado

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All Colorado taxpayers will receive a cash refund this summer. Any taxpayer who files their return as a single person will receive $400. Meanwhile, taxpayers who file their returns jointly as a couple or household will get $800. Some 3 million taxpayers in Colorado will benefit from these resources.

The payments are to be distributed thanks to the Amendment to the Taxpayer Bill of Rights (TABOR) that was approved by the voters of the state in 1992. Under TABOR, the amount of revenue that the government can retain and spend is limited, and excess revenue must be turned over to taxpayers.

Immediate refund

State Treasury Dave Young said the state will soon reach the financial cap set by TABOR, triggering the payment. The Colorado Department of Revenue will ensure that resources are available so that the checks can be sent this summer instead of the typical schedule of receiving the payments in the spring of the following year.

 “People are paying more for everyday items like gas, groceries and rent through no fault of their own,” said Governor Jared Polis. The governor explains that the current situation requires speeding up the processing of reimbursements to provide immediate relief to people in order for them to allocate the resources to fit their current needs.

Additional point of view

 “While we enthusiastically support Coloradans receiving their TABOR refunds as quickly as possible, it is incredibly disingenuous for some lawmakers in our state to tout the benefits of tax relief while at the same time circumventing Colorado’s Taxpayer’s Bill of Rights (TABOR) at every turn. Since being enacted, TABOR has helped create the economic conditions to help our local economy thrive”, said Angel Merlos, strategic director for The LIBRE Initiative.

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