Colorado voters will decide in November 2026 whether to exempt K-12 general fund spending from TABOR limits—raising the spending cap by approximately $4.5 billion annually. Sen. Jeff Bridges (D-Greenwood Village), Joint Budget Committee vice chair, leads the effort. The Colorado Education Association backs it. March 2024: The legislature celebrated “fully funding” schools by eliminating the Budget Stabilization Factor.
The measure would raise Colorado’s TABOR cap by current K-12 general fund spending and require a minimum 2% annual increase—approximately $90 million the first year. The CEA passed a 2023 resolution declaring “capitalism inherently exploits children.”
The legislature eliminated the Budget Stabilization Factor in March 2024—accumulated $10 billion in cuts since 2009. They restored funding to 1989 inflation-adjusted levels using one-time State Education Fund savings. Federal pandemic funding expired in 2024. Eighteen months later: Schools need $4.5 billion more in permanent funding.
Colorado faces $850 million deficit in 2026. The state cut $1 billion in 2025. Medicaid costs drive the structural gap. The TABOR cap will be exceeded by $500 million in FY 2026-27 and $800 million in FY 2027-28. Even if revenues exceed the cap every year, reaching the full $4.5 billion impact takes at least 10 years.
CEA President Kevin Vick claims internal polling shows 2-to-1 voter support for “giving up TABOR rebates to improve education.” CEA’s 2024 legislative agenda listed two goals: “Lower Budget Stabilization Factor to $0” (accomplished) and “implement long-term systemic solutions” (this measure).
Sen. Barbara Kirkmeyer (R-Weld County), Joint Budget Committee member: “It’s been 34 years since TABOR passed. In the last seven years, instead of trying to work with TABOR, they’re trying to figure out how to work around TABOR. The problem is addiction to spending, not TABOR.”
TABOR rebates force the legislature to seek voter approval for tax increases. Exempting K-12 spending from TABOR means future increases don’t need voter approval. The measure goes to voters, but it permanently removes K-12 spending from TABOR limits. Once removed, future increases avoid voter approval.
With Democrat supermajorities, the measure will reach voters in November 2026.
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