DENVER (KDVR) — A bill looking to give tax exemptions for children’s products advanced in the Colorado legislature.
“When I was traveling through my districts talking to parents about how hard it is to raise children nowadays, I wanted to alleviate that pressure,” said state Rep. Ty Winter, a Republican who represents rural counties in the southeast corner of the state.
Winter is sponsoring House Bill 24-1027 with two parts to it.
First, it creates a state sales and use tax exemption for baby and toddler products. If passed, that would start Jan. 1, 2025, and continue indefinitely.
“From gates to strollers to clothing, anything it takes to raise a child,” Winter said.
The second part is a state sales tax holiday for back-to-school items for two weeks twice a year. There are certain limitations on the cost of the products, which you can find listed here.
“I really think it’s a win-win,” Winter said. “It helps families all the way from toddler, all the way to high school age. So I’m trying to cover all bases within the spirit of a tax cut.”
Parents at Washington Park in Denver told FOX31 they think the tax cut could go a long way.
“Any way you could redistribute funds in a different way where I can provide for my children in the future, I can save for their college as well as any other expenditures, is always a bonus for me,” father Robert Terry said. “I love that they’re considering that. As you know, a lot of politicians want to state that they are family-forward. Well, let’s see if they can implement something.”
Bipartisan Colorado tax exemption narrowly advances
The House Finance Committee narrowly approved the amended bill Tuesday 6-5 with bipartisan support.
FOX31 asked Winters about the pushback they received on the bill.
“They said, what about a family that can afford these things? Or what if a business decided to buy pencils during a tax-free holiday?” Winter said. “At the end of the day, for the minuscule amount of people that would be gaming the system and trying to save a few bucks, the impact on families in Colorado would be far greater.”
The bill is now headed to the Appropriations committee.
Source: Rocky Mountain News
4 total views, 1 views today