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Thu, 18 Sep 2008Amendment 58Posted to Politics categoryTheres been a lot of hubbub on TV for and against Amendment 58.Amendment 58, Gov. Bill Ritter's Smarter Colorado plan, would eliminate an existing property tax-severance tax offset for energy and mining companies and increase the tax on some low-volume wells. The additional revenue would be used for college scholarships, wildlife habitat, renewable energy programs and transportation and water projects in communities affected by energy development.
It's a proposed change in state law, not a constitutional amendment. One side says Colorado has been giving $300 million a year to the oil companies in a tax break. The other side claims this is a $290 million tax increase.
This site gives a good review on both sides I think I'll be voting to get rid of the tax break for oil companies. My company doesn't get a tax break so why should any others. Posted at: 2:53 pmComments
Re: Amendment 58 I think you should vote to keep the tax break. If they were eliminating the tax break for oil companies, and using the revenue to cut everyone's taxes evenly, that would be fair. But if they're eliminating the tax break just to pad the government's wallet, there's no benefit to it. They're just baiting you, by making the oil companies the target, for their own benefit. ReplyYour Comment |