The legislation, centered around extending the expiring 2017 personal tax cuts, also included a suite of Republican priorities and drew unified Democratic opposition.

The $40,000 cap would begin in 2025, with the same $500,000 income phaseout, and both figures would rise by 1% annually from 2026 through 2033.

Colorado’s Democratic leaders blasted congressional Republicans’ tax bill as a “complete betrayal” after the bill passed the U.S. Senate and hurtled toward its potential