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It was the most significant tax measure to appear before any U.S. voters this year and early returns suggest voters wanted nothing to do with it. Colorado's Proposition 103, which would have marginally raised state income and sales taxes to fund education, was drawing roughly 35 percent support in the hours after polls closed.
State Senator Rollie Heath's Proposition 103, which asks Coloradans to approve a tax increase to bolster the state's cash-strapped schools, will be the most significant tax measure to appear before any U.S. voters this year. The Pew Center on the States calls the vote a test of public attitudes toward tough recession-year fiscal choices and for that reason will draw scrutiny in capitals coast to coast.
Wednesday Colorado Secretary of State Scott Gessler said that enough valid signatures had been collected to place Initiative 25 on the ballot November 1. The initiative would raise Colorado income and sales taxes for the next five years, raising approximately $536 million in the first year.