Aug 15, 2022 - News

What you said: What you'll do with taxpayer refunds

Data: Axios survey; Chart: John Frank/Axios
Data: Axios survey; Chart: John Frank/Axios

Taxpayer refunds are arriving in mailboxes across Colorado this month.

  • Individuals are receiving $750, while joint filers get $1,500.
  • The refunds, which are arriving early, are coming because of the Taxpayer's Bill of Rights.

What's new: We asked what you would do with the money.

What we found: We heard from more than 200 readers. A plurality said they planned to pay existing bills, followed by those who planned to bank it.

  • Others intend to spend the money or travel.

Why it matters: The check's early arrival is a political play by Democrats. And how taxpayers respond is an economic question, because it amounts to $30-40 million statewide.

What you're saying: Here's a sample of the different reactions to the TABOR checks.

  • "Our local food bank, Bienvenidos Food Bank, is struggling this year with higher need, less donations, and food price inflation, so we’ll be using part of our refund to support our neighbors." — Ramsay H.
  • "Credit card bills piled up due to gas and grocery price increases and I will pay off some of that debt." — Nick H.
  • "The rebate is a wonderful opportunity to help small business Colorado." — Rich C.
  • "As a senior on a fixed income, I look for ways to boost my emergency fund." — C. Rider
  • "I always pay my bills. This will help. That said, I would prefer to get rid of Tabor and allow the money to be used for public education." — Wendy B.
  • "I’m making a career switch out of education and took a pay cut. This will help me pay catch up on bills." — Makayla V.

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