NFIB poll: Members favor income tax cut

Tony Gagliardi NFIB

Members of a small business advocacy group in Colorado support a ballot measure reducing the state income tax, survey results show.

The National Federation of Independent Business asked members if they support Proposition 121 on the November election ballot. The survey asked one question: “Should Colorado reduce the state income tax rate from 4.55 percent to 4.4 percent.”

Among those who responded, nearly 90 percent answered yes, 10 percent said no and 1 percent were undecided.

“The result was not a surprise,” said Tony Gagliardi, state director of the NFIB  in Colorado. 

What is surprising, Gagliardi said, is the number of people caught up in the debate over the initiative. “Discussions about who benefits and by how much miss the point entirely. Proposition 121 is a small step toward achieving the goal of having no state income tax at all, which is something we ought to move on faster now that Arizona has instituted a 2.5 percent flat tax rate that will take effect at the beginning of 2023,” he said.

“Having no state income tax would give small business owners something they have always desired: the predictability needed to hire more employees and expand their enterprises, both of which would produce a sustainably healthier economy,” Gagliardi said.