DALLAS — Colorado’s Taxpayer Bill of Rights, which limits the ability of state and local government to raise taxes and issue debt, violates the U.S. Constitution, according to a lawsuit seeking to overturn the voter-approved law.

With a long list of plaintiffs from the state legislature and local government, the suit filed Monday in U.S. District Court in Denver claims that TABOR restricts legislative power in violation of the Constitution’s guarantee that states have a “republican” government, in which the authority to govern is given to elected representatives.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.