Cumulative benefits and losses from 'flat' TABOR refunds

Two new laws will affect next year's TABOR refunds paid in 2024. The result is that the lowest income tier, those under $51,000 income, will gain a cumulative $288 million in refunds. The highest tier will lose a similar amount.

Note: These numbers do not sum to zero. That's because one of the new laws directs about $185 million away from TABOR refunds altogether and into another bucket, the Earned Income Tax Credit. That benefit is for working people who make less than about $56,000 -- an effect not shown in this chart. Meanwhile, lawmakers also passed a tax cut that will provide close to $400 million of relief for homeowners across the income spectrum.
Chart: Andrew Kenney/CPR News Source: Colorado State Legislature
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