DENVER—Colorado Republicans are discussing their opposition to a ballot proposal to raise taxes by $3 billion over five years to help fund the state’s education system.
Republicans against the proposal that voters will decide on this November argue that it will slow the state’s economic recovery and cost jobs. Opponents were set to make their case against the proposal at the state Capitol Thursday afternoon.
The proposal known as Proposition 103 would raise the sales and use tax rate to 3 percent, up from 2.9 percent, and raise the state’s individual and corporate tax rates to 5 percent, up from 4.63 percent. The increases would be in effect from 2012 to 2017.
Democratic Sen. Rollie Heath says the tax increases are needed to prevent further cuts to Colorado’s education system.
