A pitch to shore up Colorado’s Medicaid program and schools by ramping up taxes on the state’s wealthiest residents will likely go to voters next year under a proposal set to be announced Wednesday morning by a coalition of progressive groups.

The proposed ballot measure would end Colorado’s decades-old flat income tax policy and require those making more money to pay higher rates. The measure, if approved by voters in November 2026, would cut the effective income tax rate for individuals making less than $250,000 a year — while those making $600,000 per year or more would see an increase.

The changes would raise another $2.3 billion per year for the state, according to an analysis by the initiative’s backers. They would also include breaking a key piece of the Taxpayers’ Bill of Rights,

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