116 would divert money from schools and health care. What does Proposition 116 do? Opinion: Prop. COLORADO, USA — Colorado voters have passed a reduction in the state income tax, according to the latest projections from The Associated Press. Proposition 116 asks voters to approve a reduction in Colorado’s income tax rate from 4.63% to 4.55%, a rate that has remained flat since 2000. President Senate … Supported by the Koch-funded Americans for Prosperity (the same group that brought you global warming and Donald Trump), this ballot measure does nothing but line the pockets of Colorado… Amendment B isn't the only way Coloradans are fiddling with government revenue this election. Colorado's Proposition 116 would cut the income tax rate from 4.63% to 4.55% and amount to a savings of $37 annually for the average taxpayer. Proposition 116 asks voters whether they would like to decrease the state’s income tax rate from 4.63% to 4.55%. Colorado Proposition 116 Election Results: Reduce State Income Tax. 2020 Election. 2020 Election. Proposition 116 - State Income Tax Rate Reduction This initiative would cut the state’s income tax rate from 4.63 percent to 4.55 percent. Why you should vote no. Published on Sep 4, 2020 3:01AM MDT Opinion Columns Primary category in which blog post is published Opinion Conservatives want a tax cut. This Election Day, Colorado voters will weigh in on Proposition 116, the Decrease Income Tax Rate from 4.63% to 4.55% Initiative.It would permanently reduce the state’s flat income tax rate from 4.63 to 4.55 percent and be retroactive to January 1, 2020, meaning taxpayers would benefit from the … Proposition 116 is just another attempt to cut funding to schools, health care, housing, and more so the rich get richer. Updated Dec. 24, 2020, 7:02 PM ET. … The measure will lower Colorado’s income tax rate … A pantheon of Republican stars aligned behind Proposition 116 to lower the income tax rate from 4.63% to 4.55%, which proponents say will spur on the economic recovery and make up for the lost revenue from less taxation on earnings. COLORADO SPRINGS — This November, Colorado voters will be asked to cut the state’s flat income tax rate from 4.63% – 4.55% in Proposition 116. Colorado … Proposition 116 … A person making $50,000 would see their tax … DENVER (KDVR) — Colorado voters approved Proposition 116, The Associated Press reports.. Colorado legislators say that Proposition 116 would make economic hardships and disparities even worse.