Posted: Oct 30, 2011 2:35 PM by AP Posted by James H Egbert
DENVER (AP) - The nation's only statewide tax vote on the November ballot asks Colorado voters whether they want to temporarily raise taxes to generate $3 billion for classrooms and colleges. It's a proposal that has stirred fierce opposition because of the stagnant economy.
The vote could serve as a test of voters' mood on tax increases and their frustration after endless rounds of education cuts.
Opponents insist tax hikes will cost jobs and won't by themselves help schools. Some Democratic leaders have declined to publicly endorse the proposal, saying they see little appetite for a tax hike.
The measure would raise individual and corporate tax rates from 4.63 percent to 5 percent and Colorado's sales and use tax rate from 2.9 percent to 3 percent.
(Copyright 2011 by The Associated Press. All Rights Reserved.)