Revenue-Raising State Ballot Measures Go Down to Defeat In Many States; Colorado Voters Reject Tax-Cutting Package

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

On Nov. 2, voters decided some 160 ballot questions, according to the National Conference of State Legislatures. Roughly a quarter of the measures on the ballot dealt with taxes and revenue. If a clear pattern emerged from the results of those votes, it is that taxpayers are loathe to approve any measure that is likely to increase their taxes, even if by doing so they can help to plug massive holes in their state's budget. The exceptions appear to be Massachusetts, where voters rejected a cut in the state sales tax, and Colorado, where voters overwhelmingly defeated a package of measures that would have cost the state an estimated $2 billion in lost revenues and $1.6 billion in mandatory new spending.

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