Letter: Vote yes on Proposition 116
This one is an easy decision. Prop 116 brings the potential for positive news to the Colorado electorate. State Sen. Jerry Sonnenberg, a Republican from Sterling, has worked with the Independence Institute to get the initiative on the November ballot. In this time of economic stress caused by the COVID-19 pandemic, all of us will benefit by keeping more of our own money.
The measure would reduce the state income tax rate from 4.63% to 4.55%. Though the cut would not create a windfall of money for any individual taxpayer, it provides a level of funds that individuals are likely to spend for immediate needs like food and clothing.
In aggregate, this spending benefits small businesses and boosts the Colorado economy. If passed, 116 will have the effect of adding private-sector wealth. In turn, a better economy means more jobs
And as the economy expands, state tax revenues will grow.
Seldom do we voters get an opportunity to reduce our tax burden. Let’s not miss this one. Vote yes on Prop 116.
Mary Ann Kaddatz
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