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Pub. Date
2014.
Description
This memorandum provides a checklist of items to consider when evaluating legislation that creates or alters a tax expenditure. The items provided are listed under the following headings: incentives matter; distribution of income; ease of taxpayer compliance; transparency; Taxpayer's Bill of Rights (TABOR) and the General Fund budget; local government impacts; and ease of administraton.
Author
Pub. Date
2013.
Description
This memorandum provides an overview of the transfers and economic triggers created in Senate Bill 09-228. Senate Bill 09-228 altered the limit on General Fund appropriations, created future transfers from the General Fund to transportation and capital construction, and increased the General Fund statutory reserve in future fiscal years.
Author
Pub. Date
2013.
Description
The American Taxpayer Relief Act of 2012 (Act) addressed uncertainties related to federal tax policy by extending most of the Bush-era individual and corporate income tax provisions for the middle class. In general, the Act is consistent with assumptions made during the preparation of the Legislative Council Staff December 2012 revenue forecast.
Author
Pub. Date
2012.
Description
Under current law, a number of federal fiscal policies are scheduled to take effect on January 1, 2013, that will reduce the deficit by an estimated $534 billion in 2013. The reduced deficit is achieved by raising $4.93 in taxes for every $1.00 in spending cuts. If Congress and the President do not act, then federal fiscal policy will be significantly tighter. The combination of rapidly tightening fiscal policy and slow economic growth will likely...
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