In a significant electoral decision, Colorado voters have approved Amendment 87, which introduces a graduated income tax system, notably increasing tax rates for those earning over $500,000 annually. This new structure is set to raise an estimated $2 billion in additional revenue per year. Supporters argue that the measure will provide much-needed relief to residents facing high costs, while it could impose substantial tax increases on high-income earners, including professional athletes. Alongside this, Proposition NN has also gained approval, directing TABOR refunds to K-12 schools, indicating a strong public commitment to education funding. As these measures pass, the proposed cap on the state’s income tax rate at 4.4% was rejected, reinforcing the shift towards a more progressive tax system in Colorado.