Colorado voters have approved Proposition 116, a measure that cuts the state income tax cut.
Americans for Tax Reform supported the proposition, which cuts the state income tax from 4.63% to 4.55%.
“Colorado taxpayers voted themselves a pay increase by reducing the single rate income tax rate from 4.63% to 4.55%,” said Grover Norquist, president of Americans for Tax Reform. “While some states are hiking their personal income taxes, Colorado citizens used the initiative process to reduce theirs. That is power to the people.”