Jared Polis: Vote against the graduated income tax but support Prop. NN (Opinion)
Amendment 87 would be a multi-billion-dollar tax increase
By Jared Polis
Published: October 15, 2026 at 5:01 AM MDT
This election, Coloradans are being asked to consider complicated tax policy on our ballots. Let me tell you why I am voting no on Amendment 87 and yes on Proposition NN.
Amendment 87 would be a multi-billion-dollar tax increase. Our economy is struggling, and the cost of everything has skyrocketed thanks to Trump’s tariffs and inflation. Adding this enormous tax increase now would seriously hurt our economy and raise prices on everything from restaurants to clothing and other necessities.
Even worse, it’s a blank check for politicians, and there is no guarantee that any of the $2.7 billion tax increase will actually go to K–12 schools. Coloradans are looking beyond the headlines and ballot tables and carefully examining the fine print of Amendment 87: compared to other states with income taxes, Colorado currently has the 12th-lowest top income-tax rate; Amendment 87 would nearly double the top rate from 4.4% to 8.4%, giving Colorado the 9th-highest income tax in the country.
Colorado does not need a historic tax increase, but we do need common sense funding solutions like allowing our schools to retain the taxes the state already collects. Amendment 87 is not the answer to funding our schools; Proposition NN is.
Amendment 87 would wreak havoc on our economy already suffering from trade wars and the war in Iran, which has led to high fuel prices. Coloradans simply can’t afford this extreme measure. Its ballot title begins: “Shall state taxes be increased $2.7 billion annually” – and even worse, Amendment 87 could make it easier for some people’s taxes to increase in the future.
Amendment 87 could give politicians the ability to change the new tax brackets without a vote of the people, similar to how the legislature changes tax expenditures, meaning that people who think they are getting a tax cut could instead wind up with a tax increase in the future, depending on what politicians want.
In our current economy, restaurants, small businesses and mid-size Colorado-grown businesses are hurting the most — Amendment 87 could be the nail in their coffin. While proponents like to argue we should “tax the rich,” and some of the new taxes do come from the rich, most of the tax hike hits small- to mid-size businesses.
Roughly 70% of Amendment 87’s tax hike is attributable to business tax increases, broadly defined to include C corporations plus pass-through income from S corporations, partnerships, and LLCs.
While $500,000 is a lot for a family to earn, a company earning that much is a small business. Increasing taxes on small businesses means fewer raises for workers, fewer new jobs, potentially higher prices and even layoffs. Colorado companies compete against businesses in Texas, Utah, Arizona and dozens of other states. Tax policy affects where companies invest, expand and create jobs.
While some describe Amendment 87’s tax hike as a funding increase for schools, there is no guarantee for how much will even go to K–12 education. Politicians would decide which programs receive the money and how much. All of the additional money could legally be allocated among other permitted purposes based on the whims of the legislature.
That’s very different from the other fiscal policy measure on the ballot, Proposition NN. Fortunately, Colorado does not have to choose between fiscal responsibility and investing in our children. I’m supporting Prop. NN on the ballot this year because it will increase investment in our schools without increasing tax rates.
I believe in investing in our hardworking students and teachers, and increasing support for preschool and child care to help save parents money and give kids a strong start. Proposition NN does exactly that without harming our economy and small businesses. Prop NN increases state investment in our schools, directs funding toward better teacher pay and retention, smaller class sizes, career and technical education, and preschool and early childhood education.
Prop NN will save parents money by helping to lengthen the school day and year, providing more hours of education and more dollars in parents’ pockets. It also requires an annual independent public audit to ensure that the will of the voters is honored, all without increasing tax rates. We voters have a choice this November — we can either fund our schools and early childhood education without raising tax rates by passing Prop. NN, or we can see the largest tax hike in Colorado history without guaranteeing that a single penny of it goes to education.
That’s why I’m voting yes on Proposition NN and no on Proposition 87, and I hope that you join me.
Jared Polis is the governor of Colorado.
