May 4, 2004

Colorado State Rep. Dave Schultheis (R-Colorado Springs) today applauded Rep. Bill Cadman (R-Colorado Springs) on his introduction of HCR 1018, which would submit to voters a change to TABOR to require voter approval for all new TABOR Refund Mechanisms (TRM) enacted by the legislature.

TRMs are targeted tax credits against the TABOR surplus, the amount of state revenue above TABOR revenue limits that must be returned to the people. TRMs reduce the general TABOR refund to all Colorado taxpayers.

"TRMs are a way to use excess tax dollars for government goals," Schultheis said. "But the money doesn't belong to government. The surplus comes about because the government collects more tax revenues than TABOR allows, and TRMs are a way for government to pursue its own social goals instead of returning those dollars to the people."

Schultheis also applauded state Treasurer Mike Coffman for his work with Rep. Cadman to make the resolution a reality.

"Coffman understands TABOR and limited government," Schultheis said.

"There are people on both sides of the aisle who are too prone to do something with excess tax dollars other than just give them back," Schultheis added. "This end-run around the will of the people needs to stop."

Schultheis noted there are currently 20 TRMs in existence, and he ran a resolution to prohibit additional TRMs completely in 2002, a measure co-sponsored by House Minority Leader Andrew Romanoff (D-Denver).

"Staff of the General Assembly are projecting $1.3 billion in TABOR surpluses will materialize over the next 5 years," Schultheis said. "Because of this, the momentum to continue increasing the number of TRMs will continue to grow unless the voters put a stop to it."

Dave Schultheis is a second-term legislator from northern Colorado Springs.