(Denver, CO) – Today, the 362,000-member National Taxpayers Union (NTU), the nation's largest and oldest taxpayer advocacy organization, joined with several Colorado-based and national groups to recognize the end of Referendum C and the full return of TABOR, the strongest set of taxpayer protections in the country. NTU has over 7,300 members in Colorado.
John Stephenson, NTU's State Government Affairs Manager, says "The return of all TABOR provisions is a momentous event for Colorado taxpayers. Under Referendum C's 'TABOR timeout,' Coloradans missed out on $5 billion in tax rebates and state spending grew unchecked. But now Coloradans can look forward to tax relief in years ahead and take comfort in knowing that the ultimate authority to keep government budgets under control lies with them."
According to Stephenson, by guaranteeing refunds of excessive taxes, restricting spending to sensible growth rates, and giving Coloradans the ability to vote on tax increases, TABOR has since its enactment been instrumental in growing Colorado's economy and protecting it from the worst effects of recessions. TABOR helped to facilitate reductions in both the state's income and sales tax rates, and by 2001 returned $3.2 billion in refunds to taxpayers. But over the years, special interests have tried to repeal or weaken TABOR. In 2005, the tax-and-spenders enacted Referendum C, which suspended TABOR's limits on government expenditures until July 1, 2010.
NTU's Stephenson added, "Some of our 7,300 members in Colorado have told us why TABOR is important to them. One said '[TABOR has enabled Colorado to protect us against the economic extremes that the rest of the country has had to endure.' Another told us 'Knowing they have to return surpluses, stops [the government] from misusing our tax dollars.' All too many politicians probably wish TABOR would take a permanent holiday, but those who pay government's bills know how vital and relevant this law is for the state's future."
Stephenson concludes, "NTU's members welcome the end of Referendum C and the beginning of a new chapter in the TABOR success story. We will work with groups like the Independence Institute, Mothers Against Debt, Colorado Union of Taxpayers, Americans for Tax Reform, and Americans for Prosperity Colorado, and individuals like State Senator Shawn Mitchell, to ensure the strongest taxpayer protections remain so."
NTU is a nonpartisan, nonprofit citizen organization founded in 1969 to work for lower taxes, smaller government, and economic freedom at all levels. Note: For more information on NTU, visit www.ntu.org or text the word "FIGHT" to 67292.
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