Governor Spencer Cox signed a series of bills enacting tax cuts and credits designed to offer some relief for Utahns facing rising costs from inflation.
"It’s not just in one area," the governor told a crowd at the Utah State Capitol on Wednesday."It’s in lots of different areas that will benefit every person in our state in some way."
The income tax bill also removes the state portion of the sales tax on food — contingent upon Utah voters approving a proposed constitutional amendment in 2024 that allows the legislature to dip into the earmark for education on the income tax. Negotiations with education groups are ongoing about the precise language, but the latest version creates a funding formula for public schools while preserving the earmark and letting lawmakers dip into it as needed to address other budget needs.
"I just want to use this moment to encourage the people of Utah to vote to remove the sales tax on food. I think this is good for everyone, especially those who are struggling to make ends meet," he said. "That tax money they would have given in a state income tax, they can use that any way they choose. They can use that for child care," she told FOX 13 News on Wednesday."It reduces the gas tax by two cents, which doesn’t seem like a lot but it does provide $25 million of tax relief to residents of the state," said House Majority Leader Mike Schultz, R-Hooper, who sponsored the legislation.
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