Proposition Ii Passes: Colorado Voters Favor Measure Allowing State To Keep Excess Tobacco Taxes
Proposition II, a measure that asked voters to allow the state to keep excess tax collections on tobacco and nicotine products, has been passed by a wide margin. This means that Colorado's taxes on these harmful products will remain unchanged, and the state will also receive an extra $23.65 million for its preschool program.
Early results showed that 67% of voters supported Proposition II while only 33% rejected it. This is no surprise, considering that just last year, voters approved a similar tax increase on cigarettes and other tobacco products by a 2-to-1 margin.
This additional tax on tobacco and nicotine products, known as Proposition EE, has already resulted in more revenue than expected. However, under Colorado's Taxpayer's Bill of Rights (TABOR), any excess tax collections must be approved by voters for the state to keep the funds.
If Proposition II had failed, the state would have been forced to refund the extra tax money back to wholesalers and distributors, as well as lower the tax rates on tobacco and nicotine products. But thanks to the passage of Proposition II, the state will be able to keep this revenue and put it towards important initiatives.
One of the beneficiaries of Proposition EE's taxes is Colorado's universal preschool program. With the additional funds, the program plans to extend the amount of class time for low-income families and provide 30 hours per week of class time instead of the current 15 hours.
The success of Proposition II is a win for Colorado's children and families, according to supporters. With the extra funding for the preschool program, more children will have access to quality education and a chance for a brighter future.
The measure faced minimal opposition, with campaign finance records showing only about $265,000 in contributions from groups such as Healthier Colorado, the American Heart Association, and Save the Children.
This overwhelming support from voters and lack of opposition further underscores the importance of investing in our children's education and supporting a healthier population.