State Bill Colorado

“Colorado lost 198,400 jobs last year, and our state’s unemployment rate for January was 7.5 percent for January. Consequently, we can only urge the legislature to focus on assisting employers — whose ability to retain and create jobs is absolutely vital to economic recovery —instead of burdening businesses with the tax bills.”

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Tax increases Colorado lawmakers are rushing to pass to balance the budget would undo about 6 percent of the $2.2 billion in tax credits and exemptions on Colorado’s books.

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Candy, soda, Amazon purchases and select software are one step closer to being taxed after the Colorado senate Wednesday gave its final approval to a group of bills that would suspend or eliminate a series of tax credits or exemptions.

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As the legislative battle over eliminating tax breaks nears its end, some lawmakers wonder if another front will emerge months down the line in court.

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Senate Republicans Monday night said they found one industry whose tax break they actually were OK with eliminating: newspapers.

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Colorado Republicans Monday jumped on Sen. Rollie Heath, a Boulder Democrat, for referring to the proposed elimination of a series of tax credits and exemptions as a tax increase.

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A marathon committee hearing continued late into the night Wednesday as a flood of business groups argued against eliminating $132 million of tax credits and exemptions as a way to help balance the state budget.

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