Jared Polis on Tax Reform

Tax relief is the best mechanism to relieve cost of living

Colorado first state allowing deferral of some property tax

It's no secret that I, and most economists, despise the income tax. I was proud to have supported two successful income tax cuts at the ballot and since I took office our income tax rate has gone from 4.63% to 4.44%, helping produce strong economic growth and low unemployment. I don't expect that we can fully eliminate the income tax by our 150th anniversary, but let's continue to make progress.

Implemented historic tax relief; funded Child Tax Credit

Get rid of special interest tax breaks for the few

Eliminating special interest breaks lowers everyone's rates

Reduces taxes for the hardworking, instead of special breaks

• Providing every single child with quality early education;
• Finally lowering the outrageous cost of health care;
• Creating good-paying jobs in the clean-energy sector that can never be outsourced; and
• Achieving true tax reform that reduces taxes for hardworking Coloradans instead of giving breaks to special interests while forcing families to pay more.

Repeal Trump's tax cuts

Jared Polis (D): No. "I proudly wrote the bill to repeal @RealDonaldTrump's tax giveaways [to the wealthy]."

Walker Stapleton (R): Yes. "I was the only treasurer in the country with the courage to support Donald Trump's tax cuts."

Raising estate tax to 1990s level means $448B in new revenue.

Heritage Action Summary: This bill would repeal the estate and generation-skipping transfer taxes, as well as cut the top gift tax rate.

Heritage Foundation recommendation to vote YES: (4/16/2015): Collectively, these measures repeal the pernicious double tax known as the `death tax,` and result in a tax cut of $269 billion over 10 years. The death tax hurts economic growth and therefore limits the ability of Americans to prosper. Repealing the death tax would generate an average of 18,000 jobs annually and increase the overall net worth of American households by $300 billion a year. The federal government should encourage, not punish, Americans who work and pay taxes their whole lives, save enough to support themselves through retirement, and retain the ability to fulfill the American Dream by passing along a better life to their children.

Secretary of Labor Robert Reich recommendation to vote YES: (robertreich.org 6/4/2015): At a time of historic economic inequality, it should be a no-brainer to raise a tax on inherited wealth for the very rich. Yet there`s a move among some members of Congress to abolish it altogether. Today the estate tax reaches only the richest 2/10 of 1%, and applies only to dollars in excess of $10.86 million for married couples or $5.43 million for individuals. That means if a couple leaves to their heirs $10,860,001, they now pay the estate tax on $1. The current estate tax rate is 40%, so that would be 40 cents. Yet according to these members of Congress, that`s still too much. Our democracy`s Founding Fathers did not want a privileged aristocracy. Yet that`s the direction we`re going in. The tax on inherited wealth is one of the major bulwarks against it. That tax should be increased and strengthened.

Legislative outcome: Passed by the House 240-179-12; never came to vote in Senate.