Utah doesn't have a tax revenue problem, we don't need to raise your taxes, our problem is where the tax is coming from. As a state, we are seeing a depletion in general funds and an increase in income tax. In 2019, we have seen over a billion dollars in growth within state funds, $230 million in general funds and $869 million in education funds. The transportation fund has decreased with time. Property tax has remained consistent.
As a state, we are seeing the need for additional funds, to fund expenditures like the increased services to Medicaid. Since all services except education come from the General Fund or sales tax, we need to find a way to fund new expenditures, without creating debt for our state.
We have several options to fix this problem:
One way to broaden our tax base is to eliminate many of the exemptions that certain industries have received. These are some of the exemptions that are being eliminated with this tax reform proposal:
What are the projected savings to the average Utahn:
At full implementaion, a typical Utahn, 31 years of age, married with 1 dependent, making $65,325 per year, would have a net tax reduction of $634
I know this isn't an easy topic, and I value your thoughts and input. As always, you can reach out to me here, or email me at email@example.com. Thanks so much for trusting me with your voice and your vote.
A rancher, family man and Council Chair in Morgan County, I will fight for local control of education, land, and agriculture in the Utah State Legislature
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