The House Finance Committee advanced three substantive bills — a back-to-school sales tax holiday, a DMV funding redirect, and elder financial exploitation protections — while hearing opening testimony on an outdoor cannabis tax equity bill. The DMV funding bill passed narrowly (7-4) over local government opposition, while the elder fraud bill drew competing concerns about its age threshold and liability provisions from members who voted no 'for today' to preserve room for amendments.
+ 4 more actions
Anderson Lohmer argued the holiday is regressive because liquidity-constrained low-income families 'often lack the liquidity required to concentrate their purchases within a 48 hour window' and that $7.6 million would be more effective if invested in targeted refundable tax credits. Representative Garcia countered that 'the point of this is not to increase consumption of the goods — the point is to provide some sort of relief for families who can't afford the consumption of the goods,' and used Lohmer's own argument to suggest the holiday should simply be longer.
+ 4 more controversies
“To benefit from a 48 hour tax holiday, a household must have liquidity, the cash on hand to buy everything at once during a specific weekend. High income families can easily shift their schedules and spending to maximize these savings. This behavior is known as intertemporal subst. In contrast, low income families often lack the liquidity required to concentrate their purchases within a 48 hour window.”
+ 4 more quotes
Subscribe to see all key actions, controversies, quotes, and what's next.
Sign in to subscribeThe committee will come to order. Ms. Culver, please call the roll. Representatives Brooks. Camacho. Here. DeGraff. Excused. Garcia. Here. Gonzalez. Excused. Hartsug. Excused. Marshall. Here. Stuart. Excused. So Kai. Here. Tatone. Here. Mr. Chair. Here. Good afternoon Everyone made it by a minute. We do have a quorum. We're going to be going a little bit out of order from how things were printed in the House calendar and we might have to make adjustments on the fly today because we have several bill sponsors presenting in several different committees. But we are going to start with House Bill 1048, back to school sales tax holiday. Who'd like to kick us off? AML Winter thank you all for hearing this bill today. House Bill 26, 1048, the back to school sales tax holiday. I'm going to keep it short and sweet. I've been in a couple other states where they do this. We're talking about an affordability crisis that we see. And I think every dollar counts. I think every few pennies that a family can keep back are important. I know that we're in a constrained budget so we'll be bringing some amendments here in a little bit…
Subscribe to unlock the full transcript, summary, and search across all Colorado committee hearings.
Sign in to subscribe