DENVER— Today, Colorado Senate Republicans delivered a package of tax relief totaling almost $2 billion for small businesses, ranchers, and the taxpayers of Colorado. The combination of income tax rate cuts, property tax relief, and targeted tax credits will benefit people in every corner of the state.

 “The Republican team delivered relief in a big way this session concluding measures we have championed for years,” said Senate Minority Leader Paul Lundeen (R – Monument). “The package we have delivered puts the people of Colorado ahead of government at every turn.”

This session, the Senate Republicans led the charge in delivering over $1.75 billion in tax cuts for the people of Colorado. Among the notable achievements is the passage of Senate Bill 233, which will bring $1.3 billion in property tax relief. The Senate Republicans also championed Senate Bill 228, which will bring $450 million in income tax relief, the largest income tax cut in our state’s history.

Several other Republican bills will bring relief to Coloradans and help invigorate the state economy through the creation of tax credits. These bills include: 

• House Bill 1439, which will provide a $12,600 tax credit for employers who take on apprentices.
• House Bill 1001, which will provide $20,000 in tax credits to businesses that locate to economically impoverished rural counties. 
• House Bill 1142, which removes caps on the amount individuals between the ages of 55 – 64 may deduct from their taxes. 
• House Bill 1249, which gives a tax credit up to $300,000 to farms and ranches engaging in qualifying stewardship programs. 
• House Bill 1325, which will grant $44 million in tax credits to quantum computing companies and offer $30 million in tax credits for loan losses. 
• Senate Bill 16, which will allow taxpayers to claim tax credits on charity donations made through an intermediary.

Thanks to pressure from Senate Republicans, many costly Democrat bills that would have further driven up the cost of living were defeated. Among them are Senate Bills 208, 36, and 181, which would have levied more costly fees on Coloradans and grown the government by creating new enterprises.

Despite defeating dozens of bad Democrat bills and improving many others, Democrats still managed to ram through several bills that will increase the cost of living and the cost of doing business in the state. However, Coloradans undoubtedly profited from the hard work and diligence of the Senate Republicans and their presence under the Gold Dome.