Gov. Spencer Cox’s plan for a food tax credit may take a back seat to cutting taxes.
Sen. Evan Vickers, R-Cedar City, says income tax cuts remain a priority for the 2022 Utah Legislature.It will still be several weeks until lawmakers get down to the business of crafting the budget for next year. They’ve already zeroed in on a handful of areas in need of extra funding, but they know they won’t be able to meet every demand. That’s despite more than $1 billion in extra revenue this year. Plus, they’re determined to deliver a tax cut next year.
Legislative leaders also set aside $125 million for cost-of-living increases for state employees and another $20 million to boost law enforcement compensation. Stevenson acknowledged that rising inflation would dampen those planned increases. Of the excess revenue available to spend, only $290 million is ongoing money. The remaining $1 billion is one-time funding, which usually goes toward infrastructure or capital projects.
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