On February 18, 2026, Colorado Governor announced a series of new taxation measures in response to the ongoing economic downturn caused by various global factors. The state government aims to shore up revenues and balance the budget amid shrinking tax revenues and rising expenditures.One of the key measures introduced is a temporary increase in income tax rates for high-income earners. Individuals earning over $250,000 will see a 1% increase in their tax rate, while those earning over $500,000 will face a 2% hike. This move is expected to generate an additional $100 million in revenue for the state.Furthermore, the state has decided to impose a new tax on digital services, targeting online streaming platforms, ride-hailing services, and online retailers. This tax is expected to bring in an additional $50 million in revenue annually, as more and more transactions move online.In addition to these measures, the state government is also considering a tax on sugary beverages to address public health concerns and generate additional revenue. The proposal is still in the early stages, with debates ongoing among lawmakers and health advocates.Governor emphasized the importance of these taxation measures to ensure the state's financial stability and provide essential services to its residents. He acknowledged that these decisions may not be popular among certain groups but stressed the need for shared sacrifices during challenging times.Overall, the introduction of these new taxation measures is seen as a necessary step to address Colorado's current financial challenges and prepare for future uncertainties. The state government hopes that these measures will help offset the economic downturn and put Colorado on a path toward recovery and long-term stability.