BILL PASSED - A Senate committee voted 6-2 to pass a bill that lowers the income tax rate by a percentage point. For an average family of four making $72,000? It's about $98 back each year. If a family of four makes $40,000? It's about $45.
Flush with extra money, Republican leaders in the Utah State Legislature are promoting an income tax cut. FOX 13 first reported last year legislative leaders were going to push for one.
For an average family of four making $72,000? It's about $98 back each year. If a family of four makes $40,000? It's about $45. Speaking to reporters on Wednesday, Senate GOP leaders signaled that the rate might go lower when the bill makes its way to the House of Representatives. The 4.85% rate may just be a starting point in budget negotiations on Capitol Hill."We’re trying to balance fiscally, being careful and conservative and also some return to our taxpayers and in addition to that, funding some high priorities," said Senate Majority Whip Ann Millner, R-Ogden.
Lawmakers have hinted at other tax cuts coming, including doing more with Social Security. There is also discussion about an earned income tax credit for some of Utah's most needy. Advocates for lower-income Utahns have been rallying people to pressure lawmakers to pass a bill to eliminate the state portion of the sales tax on food. The Crossroads Urban Center recently launched an online campaign of people writing on paper plates their demands for the bill to pass.
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