Bob Novak says this in his political report about today’s vote in Colorado to water down TABOR:

Colorado’s Referenda C and D, which would weaken the state’s spending limits, will probably fail today. The defeat of these referenda would represent a major victory for the anti-tax movement, which had championed the state’s “Taxpayer Bill of Rights” (TABOR).

These referenda will be close. The support of Gov. Bill Owens (R) for passage of the referenda helped give them leads in the polls at the last minute. However, the leads were too small to expect passage. Both referenda were polling below 50%, and in Colorado experience dictates that referenda fail when they poll below 55% the week before Election Day.

These two referenda would give the Democratic legislature power to spend the state’s surplus over the next five years instead of refunding it to taxpayers, as they would have to under current law. Both Leaning Fail.