Colorado voters pass Proposition NN, raising the TABOR cap by $4.6 billion to fund K-12 education

Change is coming to Colorado after Tuesday night's election results, where voters passed Proposition NN a measure that could fundamentally change how the Taxpayer's Bill of Rights, known as TABOR, works.

Proposition NN raises the TABOR cap on government growth by $4.6 billion, equal to the highest amount the state has spent on education funding in previous years, with refunds earmarked for K-12 education.

State Senator and now State Treasurer-elect Jeff Bridges authored the proposition and spoke to Denver7 on election night.

It raises our Tabor rationing limit by what we spend on education in order to put more money into education. To me, that would be the most impactful thing I would have done as a legislator if that thing passes, said Bridges.

But the original author of TABOR, Douglas Bruce, is unsure. He says state laws cannot override the state constitution, and using tax revenue that previously would have been refunded to fund public schools could get tied up in court.

Kevin Vick is the president of the Colorado Education Association, and the group is excited about what the measure could mean for teachers and students. The money could lower class sizes, increase teacher salaries, and provide career and technical education opportunities for students.

"We do great things with the level of funding we have. It'll be amazing to see what we're able to do with a little bit more," Vick said. Provided our economy even grows at a moderate rate, we can expect to see significant recurring funding go directly to our schools, guaranteed. Thats going to be historic and life changing for the students of Colorado.

Voters also appear poised to approve Amendment 87, which is likely to pass by the slimmest of margins. It will change how taxes work in Colorado by creating a graduated income tax.

Under the amendment, any portion of income less than $100,000 will be taxed at a lower rate. Anything between $100,000 and $500,000 will be taxed at the current rate, and anything above $500,000 will have a higher tax rate.

"That's how the federal government works. That's how 13 Republican states around the country have their taxes. It is not an unusual way to have your taxes work, and it is at the end of the day the right thing to do," Bridges said.

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