Article

2019-08-09 Government

Utah's $97 million budget surplus makes case for tax reform ‐ and a tax cut

[Deseret News] SALT LAKE CITY ‐ Utah is counting on yet another state budget surplus, this time adding up to $97 million, and supporters of tax reform say the numbers make it clear why lawmakers need to act, including on a tax cut.

A preliminary report shows that as of the end of the fiscal year on June 30, the education fund that largely comes from income tax collections grew $140 million, an increase of 9.1% over the previous year and well above the projected 6% growth.

But it's a different story for the general fund that pays for the rest of state government services and is heavily dependent on the state's share of sales tax revenues.

While the general fund is also up, the report issued recently by the Governor's Office of Management and Budget and the Legislative Fiscal Analyst warns of a potential $43 million revenue deficit because growth was 3.6%, not the 5.3% projected.

The actual numbers are likely to change as the books are closed on the budget year.

Posted by Besoeker 2019-08-09 12:28|| || Front Page|| [15 views ] Top

#1 I blame Mormon privilege.

Posted by Besoeker 2019-08-09 12:34|| 2019-08-09 12:34|| Front Page Top

#2 If there is a surplus, taxes are too high. Returning that to the taxpayers should be the other side of the balanced budget coin. Instead, the pols want it for a "rainy day" or to hand along to gimmigrants.

Posted by M. Murcek 2019-08-09 12:37|| 2019-08-09 12:37|| Front Page Top

#3 In a true capitalist model, the gummint would be allowed to spend only what it took in last year. No borrowing except in WW II style emergencies...

Posted by M. Murcek 2019-08-09 12:39|| 2019-08-09 12:39|| Front Page Top

#4 Imagine how your bank president would respond to a letter on the subject of "what I intend to spend this year."

Posted by M. Murcek 2019-08-09 12:40|| 2019-08-09 12:40|| Front Page Top

#5 If there is a surplus, taxes are too high.

Or the Temple is covering many expensive budget services which is in the State's charter to provide citizens.

Fraud of a different flavor.

Posted by Skidmark 2019-08-09 13:24|| 2019-08-09 13:24|| Front Page Top

#6 But we always seem to be in an "emergency".

Posted by DooDahMan 2019-08-09 14:28|| 2019-08-09 14:28|| Front Page Top

#7 Skidmark, that seems less like fraud and more like a case for small government and a less intrusive charter to begin with.

Posted by Vernal Hatrick 2019-08-09 14:54|| 2019-08-09 14:54|| Front Page Top

#8 My local power company which is an EMC whatever that means gives customers refunds every year depending on their profits. Usually between $100-$200.

Posted by jpal 2019-08-09 15:37|| 2019-08-09 15:37|| Front Page Top

#9 Cool Vern, but the tithing and spending is not taxed or externally audited, or distributed for the 'public good' if one is not in the right ward. Little different than sharecropper citizens.

Posted by Skidmark 2019-08-09 16:42|| 2019-08-09 16:42|| Front Page Top

#10 Ah, the problem is that the Church is corrupt and impenetrable. That's especially hard to deal with in our society when churches enjoy practically no scrutiny (if you think it is just Utah, let me assure you, Detroit's black pastor's do the same thing on a smaller scale). It is a sticky situation when most people see the government or investigative reporters taking a look at churches and assume that it is coastal liberal elites trying to destroy religion (it often is, but churches are still corrupt just as often as everywhere else).

Posted by Vernal Hatrick 2019-08-09 17:31|| 2019-08-09 17:31|| Front Page Top

01:07 Grom the Reflective
00:28 Angealing+B.+Hayes4677