Letter: Voting yes on Prop CC is good fiscal policy
To debruce or not to debruce? That is the Proposition CC question.
The term debrucing comes from the 1992 Taxpayer Bill of Rights and is named after the bill’s creator, Doug Bruce. A portion of TABOR is a formula for the revenue cap that ratchets down revenues following a downturn in the economy. A debrucing measure removes the required revenue cap to allow a government to retain and spend all the tax revenue it collects. With the cap in place when the economy improves rather than being able to spend the additional revenue on much-needed infrastructure it requires a taxpayer refund. The estimated average refund which taxpayers would forego in 2021 with the passage of Prop CC is $37.
When we look to who has already asked and answered the debrucing question, we find that ALL 179 of the state’s school districts have debruced, 51 of 64 counties and 230 of our 274 municipalities have debruced. The state would be in good company to follow the lead of local governments.
There is a saying in government that the best decisions are made locally. If this is true, then Prop CC is a great example of good policy flowing upward. The state is following the example set by our local municipalities in asking the voters to support them with a yes vote on CC.
Depending on how long you have lived in Eagle County you may have voted to debruce the local school district, the town that you live in and the county. Everyone recognizes this is good fiscal policy!
Passage of Prop CC will fund K-12 education and higher education, along with needed upgrades to our roads and bridges, without raising taxes. Debrucing leaves all other parts of TABOR intact, including the ability for citizens to vote on all tax questions.
Prop CC is proposing to do for our State exactly what most voters have already approved for local services and infrastructure.
The question is: Are we willing to give up a small refund to invest in the long-term future of our state? I hope you will join me in voting yes on CC. Together we can make Colorado better.