Amendment 87 would amend TABOR (the Taxpayer Bill of Rights) and create a new graduated state income tax.
The move would lower the rate for the least wealthy Coloradans and raise it for the wealthiest.
The dividing line between households and business that would see their tax bill go up versus those is that would see their tax bill go down is around $500,000 per year, while some estimates have that line as high as $1 million per year depending on the business or household. The initiative is expected to raise $2.7 billion a year for the state.
While this is a constitutional amendment, this ballot question only requires a simple majority to pass.