Amendment 66, formerly known as Initiative 22, was a proposed November 2013 statewide ballot initiative. Proponents sought to raise revenues by converting the state’s flat rate for personal income taxes — currently, 4.63 percent — to a two-tiered system: 5.0 percent for all income earned up to $75,000, and 5.9 percent for all income earned above $75,000. Voters rejected the initiative by a margin of 65 to 35 percent.
Passage of the amendment would have enacted the legislative changes in Senate Bill 13-213, a revision of the School Finance Act adopted by a unanimous partisan vote in the Colorado General Assembly. The Amendment also would have required at least 43 percent of all state income, sales, and excise tax revenue to be set aside to finance preschool through high school education, restricting the ability of elected legislators to appropriate General Fund dollars for other budget needs.
Independence Institute resources:
Watch the Devil’s Advocate September 2013 episode on “Why the Amendment 66 Tax Hike is a Bad Idea”:
Watch the Devil’s Advocate April 2013 episode on “SB 213: Colorado Billion-Dollar Education Tax”:
State of Colorado resources:
Insightful commentary and other resources: