‘Historic’ $480 million tax cut sign by Gov. Cox. Here’s how it will impact Utah taxpayers.

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‘Historic’ $480 million tax cut sign by Gov. Cox. Here’s how it will impact Utah taxpayers.
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“This will benefit every person in our state in some way. We know there are many that are struggling to make ends meet. They will be helped by this,” Cox said at a Wednesday afternoon news conference.

Utah’s food tax will not be cut unless voters agree to a constitutional amendment that will change how lawmakers spend income tax revenues.

In the final weeks of the 2023 session, lawmakers shoehorned an additional tax reduction measure into the bill, eliminating the state portion of the income tax on food. That part only takes effect if voters approve a change to Utah’s Constitution that will be on the 2024 ballot. . House Speaker Brad Wilson, R-Kaysville, said that’s the reason tax reductions became a top priority.

Gov. Spencer Cox shares a laugh with Rep. Mike Schultz, R-Hooper and other members of the Utah Legislature during the ceremonial signing of 6 bills in the Capitol Gold Room, Mar. 22, 2023. House Majority Leader Mike Schultz, R-Hooper, explained lawmakers couldn’t cut the sales tax on food without that constitutional change.

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