Amendment 87 Targets Wealthy Taxpayers To Fund Senior Care

Will Amendment 87 keep an 80-year-old in her own home?

That is the question at the center of the upcoming ballot measure. The proposal is straightforward: replace Colorado’s flat income tax with a graduated system. For households earning under $500,000 a year, the rate stays the same. For those earning more, the rate climbs. The revenue generated — estimated at $2 billion annually — is earmarked for healthcare, childcare, and K-12 education.

To hear them tell it, the urgency is personal. In an opinion piece published by the Colorado Sun, two leaders in the aging advocacy space describe a friend named Sally. She is 80, uses a wheelchair, and relies on a service dog. Like many older Coloradans, she faces rising costs that threaten her ability to stay independent. Her situation is not unique; it is becoming the norm.

The math holds up, according to the advocates. By 2030, one in five Coloradans will be 65 or older. That demographic shift creates a fiscal pressure that the current flat tax system doesn’t address. A flat tax means a senior on a fixed income pays the same percentage of their earnings as a massive corporation. Amendment 87 asks the wealthiest 3% of households and large corporations to pay a bit more, putting that money toward the services older adults need to remain in their homes.

It’s not just about the tax code, though. It’s about what that revenue buys. The $2 billion would fund long-term services and supports, helping older adults access care without leaving their communities. That funding would be overseen by an annual independent audit, ensuring the money goes where it’s promised. For folks like Sally, that means the difference between staying in her home and moving into a facility.

The proposal doesn’t touch home equity, veterans’ benefits, retirement accounts, or Social Security. It’s based solely on annual taxable income as reported on a tax return. That distinction matters for older adults, many of whom rely on those assets for stability. Amendment 87 aims to protect that stability while building a broader safety net.

As the state ages, the need for a sustainable funding model grows. The question is whether voters will see the connection between a tax change and the daily reality of older residents. For now, the advocates are clear: this is about dignity, independence, and a system that works for everyone, not just the few.

“Amendment 87 would help older Coloradans and their families, plain and simple,” the authors wrote.