DENVER (AP) -- Colorado voters have soundly rejected three tax-and-debt ballot measures that analysts warned would've spelled economic gloom for the state.
Business and political leaders from both parties raised $6.8 million to defeat Amendments 60 and 61, and Proposition 101. The measures would have cut school district property taxes, banned state borrowing, and reduced the Colorado income tax.
Legislative analysts had warned the measures ultimately would have cost the state $2.1 billion in annual revenue.
Supporters raised only $17,400, hampering their efforts to make the case that the measures would help the economy -- and government revenues -- by enabling taxpayers to spend more.
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