Lawmakers are starting to move on their plan to cut taxes for a 5th straight year.
On Tuesday morning, the House Revenue and Taxation Committee takes up HB106 from Rep. Kay Kristofferson, which drops the state's income tax rate from 4.55% to 4.45%.
Just like past income tax rate reductions, Kristofferson's proposal would mostly benefit the wealthiest Utahns.
According to an analysis from Voices for Utah Children, the top 5% of income earners in Utah would see about $400 per year in tax savings, while the top 1% – those who earn $882,000 annually or more – would see their taxes drop by approximately $3,858 per year.
The cut for the bottom 80% of Utah taxpayers would be anywhere between $25 and $183 annually. The average Utah household with an income of $91,750 would save just under $70 per year. According to the U.S. Census Bureau, the average individual taxpayer in Utah earns around $40,ooo, which would result in annual savings of about $45.
Unsurprisingly, the top income earners saw the lion's share of tax savings from the tax cuts approved by lawmakers over the last four years. Since 2020, the top 1% of income earners have seen their state income taxes drop by about $17,361. This year's proposed 0.1% reduction would increase that total to more than $20,000.
New bills that caught my attention
- HB549 - From Rep. Ken Ivory, adds antisemitism to the state's non-discrimination law. The bill appears to be motivated by the controversy arising from a Salt Lake City bar's "No Zionists Allowed" policy.
- SB329 from Rep. Stephanie Pitcher extends the amount of time a borrower can rescind a payday loan.
Monday PM headlines
"It's obviously retribution": Supreme Court justices warn of Legislature's judicial clampdown. [Tribune]
Lawmakers aim to clarify definitions for the public sector collective bargaining ban. [Deseret News]
Want to buy beer with your grocery pickup order? Utah might soon allow it. [Tribune]
Poll: Most object to Trump's push to end birthright citizenship but favor other immigration moves. [KSL]
Zion, other Utah national parks breathe sigh of relief after season worker hiring freeze lifted. [Fox 13]
Utah bill aims to regulate AI use in police reports. [KUTV]
What's on Tuesday's agenda?
AM committee meetings
- Speaker Mike Schultz's proposed initiative to establish more career and technical education in schools, HB477, and Sen. Keven Stratton's bill to create a new legislative commission to evaluate and propose education legislation, SB307, are slated for the Senate Education Committee.
- HCR12, which calls on Congress to establish a framework for states to manage federal public lands within their borders, is on the agenda for the House Public Utilities and Energy Committee.
- The House Government Operations Committee takes up Rep. Trevor Lee's HB270, which makes most everybody's voter registration information public with some exceptions.
PM committee meetings
- SB178, the ban on cell phones and other devices in public schools, is set for debate in the House Education Committee.
- SB296, which changes how the chief justice of the Utah Supreme Court and presiding judge of the Court of Appeals are selected, is on the Senate Judiciary, Law Enforcement, and Criminal Justice Committee agenda.
