Voters in Colorado are being offered a bit of a Faustian bargain this Election Day: the promise of a short-term property tax cut that comes with some scary long-term consequences.
Proposition HH, if approved, would undo a key component of the state's unique Taxpayer Bill of Rights law (TABOR). That law, passed as a ballot initiative in 1992, limits the annual growth of government spending to a formula based on inflation and population growth. It's been widely hailed by fiscal conservatives across the country as a model for forcing the government to live within its means.
