|
|
Newsletter — Issue 54 — Thursday, October 15, 2026
|
|
This newsletter has been published by Engage Colorado.
|
|
The Denver Post Says Vote No on Amendment 87
This Engage Colorado Newsletter reflects the personal opinions of Dan Caruso, written with the support of the Caruso Ventures team. The Ensuring Colorado's Innovation Future Coalition did not review and has not endorsed this Engage Colorado Newsletter.
|
|
|
|
The Denver Post Editorial Board is recommending that voters vote no on Amendment 87. I commend the board for taking this position, and I appreciate the clarity of its reasoning.
The editors “fear that raising $2.7 billion in taxes in a single year on the backs of Colorado’s largest businesses will do more harm than good for this state.”
|
What’s at Stake
They write:
|
“It’s not hard to imagine some of this state’s seven Fortune 500 companies leaving Colorado in pursuit of lower taxes: Arrow Electronics, Newmont, EchoStar, DaVita, Ball Corp., VF Corp., and Ovintiv. These companies pay good salaries, often pay property taxes and pay sales taxes on goods and services they buy from other Colorado businesses. The net impact of a single Fortune 500 company is huge.”
|
The Post gives a specific and alarming example:
|
“Lockheed Martin, whose corporate headquarters is in Maryland with a corporate income tax rate of 8.25%, could move its substantial Colorado operations to a state with a lower tax rate like Texas. They would take thousands of jobs with them and much of their Colorado tax liability.”
|
The editors also “worry about some of our mid-sized businesses, and of the threat that companies might leave.”
The Editorial Board explains:
|
“Colorado currently ranks 33rd overall in the nation for tax competitiveness according to the Tax Foundation. New York is ranked 50th, and Wyoming is first. Our relatively low income tax rate helps us stay in the middle of the pack. An increase to that rate could drop us further down the list.”
|
|
Pragmatism Over Preference
The Denver Post wishes the situation were different, as the editors believe “Colorado’s government now is funded on the backs of the middle class.” They “don’t like this game America’s largest companies play.” Yet they are pragmatic when they conclude that until the situation changes, “we are at their mercy.” They hope that “someday states will agree to a mutual disarmament and stop this arms race to the bottom.”
The Post’s editors summarize it well:
|
“For now, Colorado would be wise to accept that we are able to moderately tax companies at 4.4%.”
— The Denver Post Editorial Board
|
|
Where I Agree, and Where I Don’t
I agree with them pretty much across the board. If Amendment 87 passes, the people of Texas, Florida and Utah will benefit while Coloradans will be harmed. Even if the intent of 87 is noble, the result will be disastrous.
One area where I disagree, because I think the Post is being naive, is its conclusion that most Coloradans will not see a rise in their taxes. They will. Our politicians will increase spending, and when tax revenue comes in light, they will look to the rest of the taxpayers to foot the bill.
|
Vote No on Amendment 87 and Proposition NN
More than 420 Colorado business leaders have signed the Open Letter opposing Amendment 87. If you haven’t yet, please add your name.
|
|
Ballots are in the mail. Election Day is November 3.
|
If We Work Together, the Sky's the Limit
Colorado can be the most attractive innovation ecosystem in the world, and every Coloradan will share in the economic and cultural prosperity that results from being the world's leading geography for innovation. This is the Innovation Vision for Colorado.
But to have a realistic chance of achieving this vision, we must defeat Amendment 87.
|
|
|
|
|