This month, Colorado taxpayers began receiving refunds from the state government. Joint filers got $1,500, and single filers got $750. Enclosed was a letter from Democratic Gov. Jared Polis, who noted that the checks — required under the state constitution — were being mailed ahead of schedule, due to a law passed this session, to help people cope with rising prices.
“At a time when inflation is causing increases in the cost of everyday items, we are committed to getting this money to you as quickly as possible,” Polis wrote.
Taxpayers in over a dozen states are getting refunds this year, as both Republican and Democratic state leaders seek to spend down budget surpluses and help residents cope with inflation.
Lawmakers say they’re not too worried about tax refunds contributing to inflation. The $9.5 billion California lawmakers are spending on refunds this year will help families put food on the table, said Democratic state Rep. Phil Ting, chair of the Assembly Budget Committee.
“While $9 billion is a lot of money to those individual families,” he said, “it’s not really enough money to make an impact on California’s $3.4 trillion economy.”