John Frank --- The Denver Post
The newly elected state Senate president is using his first bill to shift how TABOR refunds are issued, diverting more money to middle-class earners and drawing praise from unlikely quarters.
Colorado Springs Republican Bill Cadman's measure — Senate Bill 1 — creates a new system to provide refunds when revenue exceeds the constitutional cap under the Taxpayer's Bill of Rights, a prospect that may come as soon as this year.
By replacing the current six-tier tax refund system with a three-tier structure, a greater proportion of excess tax money would go back to those making an adjusted gross income between $36,000 and $117,000, an analysis shows.
In tackling a politically potent issue, Cadman is receiving praise from the left-leaning Colorado Fiscal Institute.
The organization's executive director, Carol Hedges, wants a ballot measure that asks the voters to allow the state to keep and spend the money. But if not, she said, "the new structure under Senate Bill 1 actually makes the rebate mechanism better."
"We commend Senate leadership for a well-considered, well-crafted proposal," she said in a statement.