CO Democrats To Propose Changes To Tax Credits

By: AP
By: AP

DENVER (AP) -- House Democrats plan to announce a proposal to change a Colorado tax subsidy program after questions were raised about its effectiveness at spurring economic development in poor areas.

Democrats are expected to release details of their proposed legislation Wednesday afternoon. The tax credits are part of the Enterprise Zone Program created more than 20 years ago and are in more than 70 percent of the state.

The Denver Post reported last year that companies filed documents stating they were owed more than $75 million in tax credits in 2010. The newspaper said those companies created a net 564 jobs, a cost of nearly $133,000 per job.

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  • by Nath Location: Colo Spgs on Feb 1, 2012 at 11:35 AM
    Another prime example of "doing the same thing over and over and expecting to get a different result". If government wants to help economic recovery and see that more jobs are created, the best things it can do are cut rules, regulations, and quit showing favoritism to foreign competition over American business and industry. I was recently reading that yes, American auto makers can sell their cars in China... BUT, China imposes a VAT tax on all American goods sold there and one example, a Jeep Cherokee sells for about $86,000 in China as a result. Now you know why I say we need a FAIR trade policy, not a "free" trade policy.
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