Phil Weiser announces opposition to Amendment 87

Colorado Attorney General Phil Weiser, the Democratic nominee for governor, announced Friday evening that he opposes Amendment 87, the graduate income tax initiative on the November ballot. 

Amendment 87, if passed, would raise taxes on people and businesses making more than about $500,000, to raise an estimated $2 billion a year for healthcare, K-12 education and childcare. It would also cut taxes on those earning less than $500,000.

In a statement to The Sun, Weiser said he supports a progressive income tax in Colorado, but thinks Amendment 87 is the wrong approach for two reasons. 

First, Weiser said there is a risk that it could backfire if voters pass both Amendment 87 and Proposition 136, a countermeasure brought by conservative activists that would cap Colorado income tax at its current flat rate of 4.4%.

If both pass but Proposition 136 gets more votes, a court could theoretically block the tax increases found in Amendment 87, while allowing the measure’s tax cuts to take effect. Weiser said that could reduce state revenue by $600 million. 

Supporters of Amendment 87, however, say the new tax brackets are designed to take effect in their entirety, or not at all. If Proposition 136 takes effect and blocks the higher tax rates, they argue the tax cuts in Amendment 87 would go away, too, keeping the 4.4% flat tax in place for everyone.

Ultimately, a court or the state legislature might have to step in and decide.

Additionally, Weiser said Amendment 87 doesn’t provide enough information on how the revenue it generates should be spent. He said revenue increases should have “a clear picture of how the money will be spent.”

“If this measure passes, I will implement it effectively; if not, I will work as governor to build support for a progressive income tax measure that can build a better future for our state,” Weiser said.

Weiser is one of only a few high-profile Democrats to oppose the graduated income tax proposal. Current Gov. Jared Polis, U.S. Sen. John Hickenlooper and former U.S. Ambassador to Mexico Ken Salazar are among the others. 

Democratic U.S. Senator Michael Bennet said Friday he is supporting Amendment 87. Bennet lost the Democratic primary election for governor to Weiser.

Amendment 87 also has the support of Democratic U.S. Reps. Brittany Pettersen, Joe Neguse and Jason Crow; Democratic congressional candidates Manny Rutinel and Melat Kiros; outgoing U.S. Rep. Diana DeGette; and Colorado Treasurer Dave Young. All four Democrats on the state legislature’s Joint Budget Committee also support it: Sens. Jeff Bridges and Judy Amabile and Reps. Kyle Brown and Emily Sirota.

If approved by voters, Amendment 87 would represent one of the biggest changes to the Taxpayer’s Bill of Rights since voters added it to the state constitution in 1992. It would replace the state’s flat income tax system with six brackets, reducing the taxes people and businesses owe on the first $100,000 of annual income, then increasing the tax rate on income beyond $500,000.

While campaigning for governor, Weiser repeatedly said he was unable to weigh in on Amendment 87 because of his involvement in pending litigation about whether the question should have been placed on the ballot. Conservatives have claimed paid signature gatherers for the measure didn’t properly register with the state. 

That litigation wrapped up Friday, with the Colorado Supreme Court ruling that the question did qualify.

Protect Colorado’s Future, the campaign supporting Amendment 87, celebrated the court’s decision.

“Twice now, Colorado courts have said that more than 130,000 voters who signed this petition deserve to have their signatures count, and that Coloradans deserve to decide this question for themselves,” said Chris deGruy Kennedy, co-chair of Protect Colorado’s Future and president of the Bell Policy Center, said in a statement.

Amendment 87 has the backing of a coalition of liberal advocacy groups, including progressive think tanks like the Bell Policy Center, the Colorado Fiscal Institute and the Colorado Center on Law and Policy. It’s also backed by public school advocates, environmentalists, healthcare policy groups and the state workers union.

Conservatives and business groups are fighting Amendment 87, arguing that the measure’s tax increases will harm the state’s economy and eliminate jobs.