Senate Democrats shoot down income tax-rate cut applauded by Polis

Although Gov. Jared Polis favors an income tax rate reduction — as he mentioned in his State of the State address Jan. 10 — Democrats on the Senate Finance Committee aren’t singing his song.

On Jan. 17, Polis, under his personal Twitter account, thanked the Republican sponsors of a bill that sought to lower the individual and corporate income tax rate from 4.63 percent to 4.49 percent.

“Thank you, @JerrySonnenberg and @RepRodPelton, for offering tax relief for ALL Coloradans. I look forward to working with you to achieve even lower rate than 4.49%, coming up w/agreeable ways to reduce tax expenditures to ensure revenue neutrality,” Polis tweeted.

But Polis didn’t extend that support at the hearing Tuesday on Senate Bill 55, sponsored by Sen. Jerry Sonnenberg, R-Sterling, and Rep. Rod Pelton, R-Cheyenne Wells. No one showed up to testify in favor of it. The Senate Finance Committee voted along party lines to kill Sonnenberg’s bill.

Read more: https://gazette.com/news/senate-democrats-shoot-down-income-tax-rate-cut-applauded-by/article_a591b614-1cb3-5016-9d7b-8e5ada079797.html