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Polis signs state stimulus bills on energy, business, arts, events

Polis signs state stimulus bills on energy, business, arts, events
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Colorado Senate advances legislative package that would overhaul state tax code


(The Center Square) – Colorado’s Senate Finance Committee advanced a pair of bills on Wednesday night that combine to overhaul the state’s tax code – bills that drew criticism from business and free market groups.
Both bills advanced by a 4-3 vote. Republican Sens. Paul Lundeen, R-Monument, Ray Scott, R-Grand Junction, and Dennis Hisey, R-Fountain voted against the package.
House Bill 21-1311 would expand the Child Tax Credit by limiting several common business tax deductions. Some deductions that would get the ax include food and beverage expenses at restaurants and limits on capital gains taxes.
According to
an analysis of the bill by the Legislative Council Staff, a nonpartisan arm of the General Assembly, the bill could raise as much as $57 million by fiscal year 2023. ....

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