Colorado

Apr 3, 2013 8:23 PM by Alyse Rzemek

Tax cut plan advances in Colorado Senate

DENVER (AP) - A series of income tax cuts in Colorado passed their first test unanimously Wednesday in the state Senate.

But Republicans warn that prospects are uncertain for the tax cuts taking effect.

A Senate committee voted 5-0 for a bill to create a Colorado child tax credit and to make permanent the Colorado earned income tax credit. The bill is sponsored by Senate President John Morse and stands an excellent chance of success in the Senate.

However, the tax cuts don't take effect until next year, and only if state tax collections pick up more than $100 million. Republicans supported the cuts but said Democrats should have proposed the cuts without the contingency.

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