Colorado Department of Transportation, Linda Gorman, Taxes, Transit, Transportation

Colorado to see multi-billion dollar windfall from Trump tax cuts

Thanks to the Trump tax cuts, Colorado state government is getting a giant tax windfall. Preliminary estimates from the Legislative Council Staff suggest that the elimination of state and local tax deductions on the federal 1040 tax form will increase Colorado tax revenues by over $4 billion in just the next 7 years.

How big is a $4 billion increase? The Trump windfall could pay for the project to add a lane to I-25 in each direction from Broomfield to Ft. Collins, a project currently budgeted at around $650 million. The Trump windfall could pay for over 5 years of state maintenance existing roads, an expense of about $750 million a year according to CDOT’s FY 2017-18 budget request.

Keep the windfall in mind when November rolls around and the usual suspects ask you to vote to increase your taxes.

 

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