Colorado Severs From Trump Tax Cuts to Fund Affordability Credit

Colorado lawmakers are raising significant new revenue to fund an expanded working families tax credit through a trio of bills that passed the House Monday and decouple the state from corporate tax breaks in President Donald Trump’s signature tax law.

A fourth bill restructuring Colorado’s corporate income tax code also won approval. All four measures passed the Democratic-controlled House Monday by votes of 42-23. The bills now proceed to the Democratic-controlled Senate.

Three of the bills create a revenue stream for an expanded family affordability credit, which builds on the state’s current family tax credit. Colorado’s credit is a hybrid ...