Phil Weiser announces opposition to Amendment 87, Colorado’s graduated income tax ballot question

Colorado Attorney General Phil Weiser is against one of the most significant ballot measures this election, the proposal that would create a graduated income tax system, shifting more of the state tax burden on the wealthy in order to raise billions for healthcare and education.

Amendment 87, if passed, would raise taxes on people and businesses making more than about $500,000, while cutting taxes for everyone else, to raise an estimated $2 billion for healthcare, K-12 education and childcare.

In a statement to The Sun, Weiser, the Democratic nominee for governor, said he supports a progressive income tax in Colorado, but does not support Amendment 87 for two reasons. He said there is a risk that if voters pass both Amendment 87 and Proposition 136, a countermeasure brought by conservative activists that would cap Colorado income tax at its current flat rate of 4.4%, it could reduce state revenue by $600 million. And he said proposals for revenue increases should have “a clear picture of how the money will be spent.”

“If this measure passes, I will implement it effectively; if not, I will work as governor to build support for a progressive income tax measure that can build a better future for our state,” Weiser said.

Weiser is one of only a few high-profile Democrats to oppose the graduated income tax proposal.

Democratic U.S. Senator Michael Bennet said Friday he is supporting Amendment 87. Bennet lost the Democratic primary election for governor to Weiser.

Amendment 87 also has the support of Democratic U.S. Reps. Brittany Pettersen, Joe Neguse and Jason Crow, Democratic congressional candidates Manny Rutinel and Melat Kiros, outgoing U.S. Rep. Diana DeGette, Colorado Treasurer Dave Young, and all four Democrats on the state legislature’s Joint Budget Committee: Sen. Jeff Bridges, Sen. Judy Amabile, Rep. Kyle Brown and Rep. Emily Sirota.

The amendment doesn’t have the backing of Democratic U.S. Sen. John Hickenlooper. Former U.S. Sen. and Ambassador to Mexico Ken Salazar, a Democrat, is featured in a video ad urging Coloradans to vote no. And Gov. Jared Polis is campaigning against Amendment 87.

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If approved by voters, Amendment 87 would represent one of the biggest changes to the Taxpayer’s Bill of Rights since it was added to the state constitution in 1992. It would replace the state’s flat income tax system with six brackets, reducing the taxes people and businesses owe on the first $100,000 of annual income, then increasing the tax rate on income beyond $500,000.

Supporters of Proposition 136 say that if both measures pass, it could result in Amendment 87’s tax cuts taking effect, while its tax hikes would be blocked. That’s why Weiser is worried the proposal could backfire and cut state revenue, exacerbating Colorado’s budget problems.

Supporters of Amendment 87, however, say the new tax brackets are designed to take effect in their entirety, or not at all. So if Proposition 136 blocked the higher tax rates, the tax cuts would go away, too, preserving the 4.4% flat tax for everyone.

Ultimately, a court or the state legislature might have to step in and decide.

While campaigning for governor, Weiser repeatedly said he was unable to weigh in on Amendment 87 because of his involvement in pending litigation about whether the question should be on the ballot. That litigation wrapped up Friday, with the Colorado Supreme court ruling that the question will stay on the ballot.

Protect Colorado’s Future, the campaign supporting Amendment 87, celebrated the court’s decision.

“Twice now, Colorado courts have said that more than 130,000 voters who signed this petition deserve to have their signatures count, and that Coloradans deserve to decide this question for themselves,” said Chris deGruy Kennedy, co-chair of Protect Colorado’s Future and president of the Bell Policy Center, said in a statement.

Amendment 87 has the backing of a coalition of liberal advocacy groups, including progressive think tanks like the Bell Policy Center, the Colorado Fiscal Institute and the Colorado Center on Law and Policy. It’s also backed by public school advocates, environmentalists, healthcare policy groups and the state workers union.

Conservatives and business groups are fighting Amendment 87, arguing that the measure’s tax increases will harm the state’s economy and eliminate jobs.