Full Breakdown
Colorado Senate Moves Forward on $37.5 Billion TABOR Refund Ballot Initiative
4/26/2026, 1:19:50 AM
Core Event and Background
On Friday, the Colorado Senate gave voice-vote approval to a ballot measure that would raise the Taxpayer Bill of Rights (TABOR) refund cap, allowing the state to retain up to $37.5 billion in tax revenue over ten years. TABOR limits the amount of tax revenue Colorado may keep and mandates refunds when collections exceed the cap; the amendment would lift that limit, diverting refunds into state-controlled education and children’s funds.
Sponsors, Opponents, and Key Players
State Sens. Kathy Kipp and Jeff Bridges sponsor the measure. Opponents—Sens. Barb Kirkmeyer, Byron Pelton, John Carson, Larry Liston, and Lisa Frizell—argue it misleads voters and effectively raises taxes. The Children’s Fund, a $28.5 billion pool for child-focused programs, is central to the debate.
Financial Scope and Projected Impact
The plan would retain up to $37.5 billion over ten years: $9 billion for K-12 education—teacher pay, retention, smaller classes, and trade-education—and $28.5 billion for the Children’s Fund, whose spending plan is not detailed. Analysts estimate each taxpayer would lose about $7,381 in refunds, while schools would gain $1.8 billion annually after the first decade, with roughly a third earmarked for Denver, Aurora, Jeffco and Adams 12 districts.
Official Statements, Responses, and Criticism
Sponsors argue the measure simply unlocks revenue already collected, earmarking $9 billion for teacher salaries, retention, smaller classes and vocational training. Opponents contend the cap increase effectively raises taxes, that the $28.5 billion Children’s Fund lacks a transparent spending plan, and accuse sponsors of gaslighting taxpayers. Sen. Kirkmeyer called the fund a “Government Waste Fund,” while Sen. Pelton warned the language obscures education spending. Sen. Carson labeled it the largest tax increase in state history.
Conflicting Reports & Gaps
Sponsors claim the proposal is not a tax increase; opponents say raising the TABOR cap is a tax hike. The $28.5 billion allocation lacks detail, and the Children’s Fund’s administration remains unclear. Bridges has pledged to amend the bill to clarify education spending, but the final language is not yet confirmed.
Verbatim Quotes
- “I wanted to change it to 'Government Helping Themselves to Your Taxpayer Refund Check Forever and Putting It Into Their Pocket,' but that was a little too long.” — State Sen. Barb Kirkmeyer
- “We're not being honest with the voters with this. Details do matter,” — State Sen. Byron Pelton
- “This is not a tax increase,” — State Sen. Jeff Bridges
- “I don't think our citizens are asking too much when they ask for us to tell the truth,” — State Sen. Lisa Frizell
Next Steps
A recorded Senate vote is scheduled for next week. If it passes, the measure moves to the House; a successful House vote would place it on the November ballot for voters to decide.
